Issue of other income

This query is : Resolved

TARIQUE RIZVI (Querist)
Follow

11 April 2016 Dear Friends
Rgds & Wishes

A factory has been given on Rent of 1,50,000/= per month. Total Income under the head of other income will arrive as at Rs 18,00,000/=.

Depreciation
Factory Licence Fees
Salary being paid to the Factory Plant Manager
R&M of the factory

Shall we get the set-off of the above expenses ?

yrs tarique rizvi
982 1630 130

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
Follow

11 April 2016 Treat it as business income and claim all the expenses which is allowed.

TARIQUE RIZVI

TARIQUE RIZVI (Querist)
Follow

11 April 2016 Can we treat rent receipt as business income

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
Follow

11 April 2016 You are renting out a factory a business asset so it can be treated as business income.

Murtaza I Bhagat

Murtaza I Bhagat (Expert)
Follow

11 April 2016 If you have leased out factory building with plant & machinery then it can be treated as business of leasing and you can claim all expense related and show as business income.

Message likes : 1 times

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Summarize this with AI

ChatGPT Perplexity Claude Google AI Grok

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

CA. MOHIT SHARMA

balamurugan

madhu sudan

Deepak Nayak

Rubal Singhal

Subscribe Now

Issue of other income

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

Accountant

GST CONSULTANCY

Manager- Finance and Compliance

CA Final

GST CONSULTANT

Article Assistant