Applicability of section 35ad
This query is : Resolved
Mallika Shah
(Querist)
05 January 2015
Is section 35AD of Income tax act, applicable to individual assessee who is building an warehouse
and renting it to sugar factories for storage of sugar.
and renting it to sugar factories for storage of sugar.
CA Kumar Mukesh
(Expert)
06 January 2015
section 35AD states only one condition that warehouse should be used to provide facility for storage of sugar. It does not make essential that warehouse should run and maintained by assessee only.
Therefore, You can claim benefit of the section 35AD
section 35AD states only one condition that warehouse should be used to provide facility for storage of sugar. It does not make essential that warehouse should run and maintained by assessee only.
Therefore, You can claim benefit of the section 35AD
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