Maintenance receipts collected under separate service agreements...

Maintenance receipts collected under separate service agreements are distinguishable from rent where the letting and service arrangements are independently documented and the charges are separately identifiable. Such receipts may retain the character of business income, particularly where the services could be supplied by a third party, rather than forming part of income from house property. Interest on fresh borrowings used to replace earlier loans for the same let-out property may qualify for deduction under section 24(b), provided the borrowings relate to the property and the interest claim does not exceed the permitted basis. TDS credit requires factual verification that the corresponding income was offered to tax.