Question

mr.ram owns a house property. he lent it to laxman at 10000 p.m laxman sublet it to mr.maruti on monthly rent of 20000 p.m rental income of laxman is taxable under the head.


a) income from salary
b) income from other source
c) income from house property
d) income from business​

Answer 1

Answer:

Option c) income from house property is the correct answer.

Answer 2

Income from other source is the correct option.

Explanation:

a) income from salary is an incorrect option because rental income is not a salary.

b) income from other source is the correct option, since rest of the options are incorrect.

c) income from house property is an incorrect option because the property is not in laxman's name. The Income from House Property is taxable in the hands of the individual if property is registered in his/her name, or transferred to spouse/minor child for inadequate consideration, or if it's an importable estate.

d) income from business​ is an incorrect option because renting a property is not considered a business.