income from house property
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
01 May 2010
Hi guys good morning. I have a dobt about the INCOME FROM HOUSE PROPERTY i.e if two persons A AND B having constructed a building with their own money and doing their own busness then now c starts joining the firm with his respective share capital now for A and B the income from building will be taxible under the head of the PGBP and how the income of C is to be treated??????? if u have an answer please forword it to me
Rahul Gupta
(Expert)
01 May 2010
The income for C will also be treated as PGBP with respect to his share in the firm.
CMA Ramesh Krishnan
(Expert)
01 May 2010
yes.to the extent of C share be treated as PGBP
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