Income from Let out of Factory
This query is : Resolved
28 September 2008
Dear Sir,
SUPPOSE A PARTNERSHIP COMPANY DEVELOP FACTORY AND LET IT OUT THE FACTORY TO OUR SISTER CONCERN WHICH IS A PVT LTD COMPANY FOR MANUFACTURING OF TOOLS DIES AND PUNCHES THE RENTAL INCOME WHICH THE PARTNERSHIP COMPANY RECEIVES MONTHLY ON ACCOUNT OF LET OUT WILL BE TREATED AS INOCME FROM HOUSE PROPERTY OR INCOME FROM BUSINESS AND PROFESSION
PLEASE GUIDE
REGARDS
RAVI KONDA
SUPPOSE A PARTNERSHIP COMPANY DEVELOP FACTORY AND LET IT OUT THE FACTORY TO OUR SISTER CONCERN WHICH IS A PVT LTD COMPANY FOR MANUFACTURING OF TOOLS DIES AND PUNCHES THE RENTAL INCOME WHICH THE PARTNERSHIP COMPANY RECEIVES MONTHLY ON ACCOUNT OF LET OUT WILL BE TREATED AS INOCME FROM HOUSE PROPERTY OR INCOME FROM BUSINESS AND PROFESSION
PLEASE GUIDE
REGARDS
RAVI KONDA
29 September 2008
There is no other option but to apportion the income between property and other facilities.
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