Rent from Commercial Property
This query is : Resolved
10 February 2021
A Pvt Ltd Company has rented own premises and getting rental income
My question is whether the rental income can be shown under Income from House Property and 30% can be claimed towards repairs ?
My question is whether the rental income can be shown under Income from House Property and 30% can be claimed towards repairs ?
10 February 2021
The annual value of property , other than property occupied by assessee for the purposes of any business or profession carried on by him the profits of which are chargeable to income-tax, shall be chargeable as Income from House Property.
And, if it is charged under "Income from House Property" deduction of on account of repairs (@30%) and payment of interest on loan can be claimed.
And, if it is charged under "Income from House Property" deduction of on account of repairs (@30%) and payment of interest on loan can be claimed.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Query regarding applicability of UDIN on MCA forms signed using DSC by a Chartered Accountant
- Cash gift by grand mother to her grand daughter
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Spice form, ? mark comes in address
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
- No Compliences after incorporation
- USEFUL LIFE OF USED/SECOND HAND COMMERCIAL VEHICLES
- Surcharge on pvt discretionary trust
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
