Director giving his property rent free to company
This query is : Resolved
23 April 2010
a) Can a director of a company give his office premises - rent free to the company, will he be taxed separately as deemed income.
b) If the above person is not a director but just a shareholder - holding 75 - 90 % shares, can he still provide his office premises to the company - rent free without being taxed in his personal assessment
the above person is a PIO card holder
b) If the above person is not a director but just a shareholder - holding 75 - 90 % shares, can he still provide his office premises to the company - rent free without being taxed in his personal assessment
the above person is a PIO card holder
23 April 2010
Under the provisions of IT Act,1961, an assessee is entitled to avail the benefit of self-occupied property in respect of one house. If he does not have any other house property he can avail this benefit. Otherwise, notional rent on the property given to the company will be taxed in the hands of the assessee
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Accounting treatment of AMC alongwith the purchase of Laptop
- Condonation Request sec 119(2) b -Enhancement Limit of Leave Exemption prior to AY 2023
- Issuing of delivery challan by seller of goods
- Not ordinarily resident having partnership income in India and salary in USA is any form to filed be
- GST Treatment of Purchases with GST Paid where Outward Supplies of Manufactured CattleFeed Exempt
- Nursery business
- WRONG GSTR7 ENTRIES ACCEPTED ERRONEOUSLY
- Tax on Amount transferred in HUF Account
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
