CAF-2 · Chapter 6 · Question 2 of 15
Mr. Ali leases out his factory building along with the installed plant and machinery for a composite monthly rent of Rs. 300,000. Under which head of income will this composite rent be chargeable to tax?
Test yourself: pick an answer
Reveal answer & explanation
Correct answer: D) D) Income from Other Sources
Explanation
Where any amount is included in rent received for the lease of a building together with plant and machinery, such amount shall be chargeable to tax under 'Income from Other Sources', not Income from Property.
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