Q. Sub-leasing business is taxed under Business or House Property

Question

Dear Sir

A LLP does not have any Land and Building in its name. It occupies a building on lease and further sub-lease to other companies. Whether this Rental Income is chargeable to income tax under “House Property head” or “Business Income head”.

Thanks

Answer 1

If it is a regular activity, then it would be income under the head, business or in a single case would be from other sources and not house property.