Is rent received by an Indian from his building in London included/excluded in domestic income of India?
Is rent received by an Indian from his building in London included/excluded in domestic income of India?
Anurag Pathak Changed status to publish December 9, 2023
No,
The rent received by an Indian from his building in London will not be included in the domestic factor income as the rent is earned outside the domestic territory of India.
Explanation:-
Only Profits earned within the domestic territory of India by residents and non-residents are included in the domestic territory of India.
As the building of the Indian resident does not lie in the domestic territory of India, his profit will not be included.
But, his profits would be included in the National Income as factor income from abroad.
Anurag Pathak Changed status to publish December 9, 2023
