Rental income of pvt. ltd.
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
08 September 2011
A pvt. co. having rental income from the property from one portion in which its run its business wants to treat it as business income . i want to know whether depreciation can be claimed from the rental portion of the property.
08 September 2011
IF YOU TREAT ITS BUSINESS INCOME THEN YOU CAN CLAIM THE ALL EXPENSES AND DEPRECIATION ALSO.
08 September 2011
If only, the letting is incidental and subservient to the main business, company can claim rental income as a business income otherwise it should be chargeable as a property income
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