Issue of other income
This query is : Resolved
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
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
11 April 2016
Treat it as business income and claim all the expenses which is allowed.
11 April 2016
Can we treat rent receipt as business income
11 April 2016
You are renting out a factory a business asset so it can be treated as business income.
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.
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