House Property
This query is : Resolved
05 November 2009
If any partner has given his owned premises for conducting the business of partnership firm without any rent wherein he was also a partner, can it be treated as Deemed to be let out(DLO) for the taxation purpose?
05 November 2009
no if partner is using the HP for partnership in which he is a partner,
Then it will be treated as HP use for business and profession,
AND HENCE IT WILL BE OUT OF PREVIEW OF INCOME FROM HP
Then it will be treated as HP use for business and profession,
AND HENCE IT WILL BE OUT OF PREVIEW OF INCOME FROM HP
07 November 2009
thnx sir for your reply
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