alleryStart learning →Hire rent of machinery or plant is other sources income when?
AWhen it is not business income
BWhen the assessee is a company
CWhen it is received in advance
DWhen the rent exceeds fifty thousand rupees
Answer & Solution
Correct answer: A. When it is not business income
Clause (ii) applies to hire income of machinery, plant or furniture only if that income is not chargeable under profits and gains of business or profession.
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