44 ad and rent received on plant & machinery
This query is : Resolved
Gopal Sengar
(Querist)
27 February 2013
RESPECTED SIR
THANKS FOR SHOWING INTEREST IN QUERY
A CONTRACTOR TURNOVER 2100000 P.A 21000 TDS DEDUCTED 194C
N ALSO RECEIVED RENT ON PLANT & MACHINERY
1200000 P.A ,,,TDS 24000 U/S 194I
THEN MY QUESTION IS
1 CAN WE ADOPT 44 AD
2 RENT ON P&M TAXABLE IN WHICH HEAD
3 AND TAXABLE VALUE OF RENT(12LAC OR 12LAC- PLANT EXP.)
THANKS FOR SHOWING INTEREST IN QUERY
A CONTRACTOR TURNOVER 2100000 P.A 21000 TDS DEDUCTED 194C
N ALSO RECEIVED RENT ON PLANT & MACHINERY
1200000 P.A ,,,TDS 24000 U/S 194I
THEN MY QUESTION IS
1 CAN WE ADOPT 44 AD
2 RENT ON P&M TAXABLE IN WHICH HEAD
3 AND TAXABLE VALUE OF RENT(12LAC OR 12LAC- PLANT EXP.)
Shrikant Toshniwal
(Expert)
27 February 2013
yes,44ad with 8% profit ,
rent on plant and machinery is covered under other source (1200000-expences)=other source
rent on plant and machinery is covered under other source (1200000-expences)=other source
Gopal Sengar
(Querist)
27 February 2013
there is any limitation for Expenses
can we 12L-10L
for tax saving point of view
can we 12L-10L
for tax saving point of view
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