house property
This query is : Resolved
16 July 2010
1. how does real estate dealers show his house property(houses in his stock in trade) u/h HP .will only 1 house value be nil,other house will deemed to be let out.
2 .how far is true that house owning neither a trade nor a bussiness, if yes/no please tell me why.
2 .how far is true that house owning neither a trade nor a bussiness, if yes/no please tell me why.
16 July 2010
1. In case the house has been held as the SIT then there will be no Income u/house property. All income will come out to be the Business Income.
2. No this is not true. Just owning & selling will become the Business of the real estate agents.
2. No this is not true. Just owning & selling will become the Business of the real estate agents.
16 July 2010
I would like to disagree here. House property whether held as stock in trade or otherwise will be taxable under the head IHP only, and not as business incomeI
16 July 2010
for complete & further clarification,
visit the following link
https://www.icai.org/resource_file/18882sm_dtl_finalnew_cp5.pdf
it's only icai resources i m quoting here, but there are other resources available too
visit the following link
https://www.icai.org/resource_file/18882sm_dtl_finalnew_cp5.pdf
it's only icai resources i m quoting here, but there are other resources available too
26 July 2010
u'r welcome.
But, I am not Mr Pujah, but Ms. Pujah :)
But, I am not Mr Pujah, but Ms. Pujah :)
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