Rent recieved is traeted business income or house property i
This query is : Resolved
Guest
Guest
(Querist)
01 August 2011
we are a partnership firm and our income from rent recieved (House & Shopes).Can we claimed salary and other exp for collection of rent or it treated income from house property and deduction will be allowed only 30% and municipal taxes .
02 August 2011
If the partnership firm is the owner of house property then the rent income will be computed under 'Income from House Property' only.
02 August 2011
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