Land lord has asked us to pay capital value and rent both
This query is : Resolved
TARIQUE RIZVI
(Querist)
25 September 2016
what is the difference between rent and capital value. Whether both of these payments are allowance in income tax for partnership firm and private limited company also.
27 September 2016
Rent is the amount that is paid on the monthly basis. The capital value may be the advance or the deposit which is paid to the landlord. This value is generally repaid when you vacate the premises. The revenue expense is permitted in the case of income tax
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