Sir
House property income will be under income from house property and car rental income will be under income from other source
How to fill ITR for house rental income and car rental income
Hi, my wife is housewife and has income from house rent and car rental. the total income is 350000/- annually. which ITR form need to fill for that? Thanks Santosh
Asked 8 years ago in Income Tax
Hii
Renting of cars is her business then u have to file ITR 3 otherwise you can file ITR1 online by showing car rental as income from other sources
In house property show 70% of rent received/receivable in ITR 1
Coz 30 % is standard deduction under income from house property
Hi
Rental income from house property has to be shown 70% of rent received.
Considering the amount, car rental can be shown under income from other sources.
You have to file ITR1.
Please feel free to call/ revert in case you need assistance in filing your return.
Thanks and regards
Abhishek Dugar
CA CS B.Com
Hello,
You will have to file ITR-3, since she has business income as well.
Trust this clarifies your query.
Feel free to call / get back in case of further clarifications.
Thanking You.
Regards,
Rohit R Sharma
BCOM, ACA, LLB-GEN, CERT. FAFP
Hi,
If your wife is renting the car as a business, then ITR-3 has to filed. If you are going to treat it as income from other sources, then you may file ITR-1.
Regards,
Keerthiga Padmanabhan
M.Com., CA, LL.B
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