Investment
This query is : Resolved
29 July 2011
can a pvt. ltd. company show residential property purchased by it and that is not used for business as investments?????
CA PARAS BAFNA
(Expert)
30 July 2011
There is no restriction on Pvt Ltd Company
for owning a residential house or any other property either as a business asset or as a non business asset.
It will be taxable under the head IFHP if it is not used for the purpose of business.
for owning a residential house or any other property either as a business asset or as a non business asset.
It will be taxable under the head IFHP if it is not used for the purpose of business.
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