Factory rent received by partnership firm
This query is : Open
07 July 2017
Dear Sir,
A partnership firm received rental income from one part of its own factory. Is it taxable under income in House Property Head or Income from other Sources?
A partnership firm received rental income from one part of its own factory. Is it taxable under income in House Property Head or Income from other Sources?
07 July 2017
It is taxable under income from business.
07 July 2017
Dear Sir,
The business of the firm is not letting out and earn rental income on it. Then how to treat it?
The business of the firm is not letting out and earn rental income on it. Then how to treat it?
07 July 2017
Factory is a business asset any income earned letting out a part/full will also be considered as business income.
08 July 2017
Dear Sir,
Do you remember any case laws on this subject matter?
Do you remember any case laws on this subject matter?
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