Annual return of Eating House
This query is : Resolved
23 May 2008
Sir,
I am running 1 eating house on annual rent, my 1st query is whether i have to fill my personal return.2nd whether i have to fill return for eating house.
Raj
I am running 1 eating house on annual rent, my 1st query is whether i have to fill my personal return.2nd whether i have to fill return for eating house.
Raj
23 May 2008
It is presumed that you are running a business(eating house). The premises is taken on rent(annual rent). You are the sole owner of the business. You have queried about Income-tax Return.
You will have to file only one return(your personal return)after incorporating Profit/Loss from your business(eating house).
You will have to file only one return(your personal return)after incorporating Profit/Loss from your business(eating house).
23 May 2008
Sir,
the license owner of the eating house is different, i have taken that license on rent.
Raj
the license owner of the eating house is different, i have taken that license on rent.
Raj
23 May 2008
it looks that u are running ur business in individual capacity, means not as partnership or company. in that case, if your total income (including profit from this eating house) exceeds maximun exemption limit,(for a.y. 2008-09 1.10 lacs) u have to file ur return as individual.
license taken on rent does not make any difference except that u can claim this rent as business expenditure.
license taken on rent does not make any difference except that u can claim this rent as business expenditure.
03 June 2008
replied
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