Let's narrate the story in this way.
You entered into a contract with a shopkeeper. You contributed capital (building) and as a result are sharing profits with the shopkeeper in the ratio of 3:7.
You have to show this income under PGBP.
However, if you have a housing loan on the property, you can claim deduction of interest of up to Rs 2 lakhs by showing the property under House property. (With no income)
Please mark your satisfactory level...
My Dear ,
I thank you for marking the answer as satisfactory.
I have noted.
It will be very nice and helpful to our other members (and the answerer too) if you mark your satisfaction level on the grade scale below.
Please feel free to mark any point. I don't share it with anyone. I use it for doing my internal calculations only. I use these calculations to evaluate the service performance of the relevant virtuoso.
Here is the grade scale:
Thank you,
Yours sincerely,
Anu, Thakurani's bestie