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House Property

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(Querist)
02 December 2010 Can a owner of property doing business at the same claim rent exps. for the same???
If not allowed and the owner claims then what are the consequences????
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Aditya Maheshwari

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Aditya Maheshwari (Expert)
02 December 2010 No as one cannot charge himself only..
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CA.ViVeK M ACA

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CA.ViVeK M ACA (Expert)
02 December 2010 If a person carries on a business on his Own premises, then he can claim the expense in connection with rent ( May be notional Rent).

The rent expense shall be regarded as business expense of the business.
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