Ambiguity over classification of rental income makes filing returns tricky

If you have been letting out a property on apps like Airbnb or HomeAway, filing income tax returns can be tricky. Would it be a business income if you pay various taxes including goods and service tax or will it be ‘income from house property’ or ‘income from other sources’? The same problem arises if you run a paying guest accommodation or let out a property for short durations. The income-tax regulations don’t provide a definite answer. "But courts have ruled that the classification of income from rent depends on whether the property is let out to enj.....

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