Rent received from plant & machinery

This query is : Resolved

TARIQUE RIZVI (Querist)
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12 July 2019 GROSS RENTAL INCOME RS 64,80,000 LESS MUNICIPALITY TAX RS 1,59,603 Balance Rs 63,20,397 Less 30% Deduction Rs 18,96,119 Balance Rs 44,24,278 The land lord has paid no installment of advance tax hence I workout @ 40% tax liability 40% of Rs 44,24,278 = Rs 17,69,711 Please guide me and oblige what to do in such situation. Whether will have to be paid Rs 17,69,711.

Some one has advised me to claim remuneration to working partners and interest on capital also.

Aashok Kumar Sharma online

Aashok Kumar Sharma online

(Expert)
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04 June 2020 More details are required. Please email me all details of transaction for the year at ashakantasharma@gmail.com to analyse and guide further on this.

Aashok Kumar Sharma online

Aashok Kumar Sharma online

(Expert)
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04 June 2020 More details are required. Please email me all details of transaction for the year at ashakantasharma@gmail.com to analyse and guide further on this.

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