Exemption u/s 5(vi)
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
11 July 2013
Drar Sir,
Whether Exemption U/s 5(vi) is available even for commercial property? The Circular No.317/23/73 WT dt.29-07-1973 which applies to the then Sec 5(1)(iv) of WT Act has not yet changed or modified or cancelled. Hence can this said circular be applied to the existing Sec 5(vi) of WT. Please guide me.
Thanking you,
Yours faithfully,
C. DURAIRAJ
Manager,
Sree Visalam Chit Fund Ltd
Whether Exemption U/s 5(vi) is available even for commercial property? The Circular No.317/23/73 WT dt.29-07-1973 which applies to the then Sec 5(1)(iv) of WT Act has not yet changed or modified or cancelled. Hence can this said circular be applied to the existing Sec 5(vi) of WT. Please guide me.
Thanking you,
Yours faithfully,
C. DURAIRAJ
Manager,
Sree Visalam Chit Fund Ltd
CA PARAS BAFNA
(Expert)
11 July 2013
Hotel or cinema can not be treated as house.
However, godown or other commerical property may be regarded as house.
.
However, godown or other commerical property may be regarded as house.
.
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