Income from house property
This query is : Resolved
26 February 2014
A Private Limited company M/S XYX Private Limited has given one of its owned premises at rent for the period of 9 years and rent agreement was duly registered by M/S XYZ Private Limited. The total cost incurred for registry expenses was Rs. 350000/-, in this regard I want to know whether the registry expenses incurred by M/S XYZ Private Limited is deductible under the Income Tax Act, 1961.
If this expenditure is deductible then can this be claimed in the same year when M/S XYZ Private Limited has incurred registry expenses or else the expenditure can be equally divided for the period of 9 years.
If this expenditure is deductible then can this be claimed in the same year when M/S XYZ Private Limited has incurred registry expenses or else the expenditure can be equally divided for the period of 9 years.
26 February 2014
reg exp cannot be taken as deduction as only 2 deduction as defined u/s 24(a) & (B) can be taken.
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