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Income tax

binay shaw (Student CA IPC / IPCC) (135 Points)

04 November 2016

We are having godown in the name of partner and this is used by two of the group firm both firm are keeping their stock is there any problem as per income tax point of view please consult in your group and reply

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Rama chary Rachakonda (Master in Accounts & Lawyer email ID:ramachary64@gmail.com voice no:9989324294) (3303 Points)
Replied 04 November 2016

Can be used by all.Recently govt. announced that All the states have also been requested to access finances available under the Grameen Bhandaran Yojana of the Department of Agriculture for this purpose. Furthermore, it has also been suggested to the states that construction of such godowns in a Public Private Partnership mode may also be undertaken like the FCI’s Private Entrepreneur Guarantee (PEG) Scheme.