Deduction from income property in company
This query is : Resolved
20 March 2014
Please adise about rent paid of our lease property can be deducted fron rental income of same lease premises in Company and what other deduction can be made e.g. repair & renovation, General Maintenance etc.
What is position of Cenvat Credit can be claim from Service tax collected from Rental income of leased Property in Company
What is position of Cenvat Credit can be claim from Service tax collected from Rental income of leased Property in Company
21 March 2014
Income from sub-letting of property will be taxable under the head Income from Other Sources.
The lease rent paid will be allowed as deduction from the rental income.
All other expenses incurred in connection with the sub-leasing are allowed as deduction.
The lease rent paid will be allowed as deduction from the rental income.
All other expenses incurred in connection with the sub-leasing are allowed as deduction.
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