rent received from company by director

This query is : Resolved

CA Nagendra (Querist)
Follow

12 December 2009 hi friends
someone help me

Director of the company receive no rent from a private company in which he is director.
whether Notional rent is taxable under house property?

whether we can apply the exception of sec 22 of income tax act (i.e. whether we can say that the companies business is the business of the owner-ie.director)

i m unable to find any legal decision regarding this issue

please if any one have solution help me

thanks
Regards
Nagendra Sah

CA Balram Sharma

CA Balram Sharma (Expert)
Follow

12 December 2009 yes rent will be taxable , in the hand of director under house property

CA Nagendra

CA Nagendra (Querist)
Follow

12 December 2009 whether we can apply exception to sec 22?
i.e. purpose for business or profession

CA SURENDRA KUMAR RAKHECHA

CA SURENDRA KUMAR RAKHECHA (Expert)
Follow

12 December 2009 No; the Director and the Company are separate legal entity. Business is being run by the Director for the Company. Hence it is the business of the company.

Hence you cannot claim exception to Sec. 22

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

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

Ashutosh Purohit

Anu Raj

Anurag Sharma

divakar podaturu

AJAY Kumar Agrawal

Subscribe Now

rent received from company by director

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

Senior Executive

Accountant

GST CONSULTANT

Manager- Finance and Compliance

CA Final

GST CONSULTANCY