Posted by: Pdfprep
Post Date: February 21, 2021
If an assessed earns rent from a sub-tenant in respect to tenanted property let out as a residence, the said rent is:
A . Exempt under Section 10.
B . Taxable under the head income from house property.
C . Taxable as business income, as the letting out is a commercial activity.
D . Taxable as income from other sources, unless the assessed is in the business of subletting properties on a regular basis.
Answer: D