Excerpt: The applicant is an individual. He derives income from salary and property. He owns a property situated at B-40, Nirala Nagar, Lucknow. The ground floor of the property was let out on 1st Aug., 1978, to the Fertiliser Corporation of India Ltd. on a monthly rent of Rs. 4,500 out of which Rs. 1,250 … Continue reading In order to claim benefit of deduction under Clause (c) of the second proviso to Section 23(1) of the Act from the annual value, the unit should be a residential unit.
The income from the leasing of the hospital can be assessed only as “income from other sources”
the income from the leasing of the hospital can be assessed only as "income from other sources" the lease income may be allowed to set off the previous years losses.
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