Warehousing
This query is : Resolved
15 January 2010
One of my friend is involved in the manufacturing business and he wants to start a new business activity in warehousing.
Please do let me know under which head the income of this warehousing activities will be charged i.e. house property or PGBP or other sources and which is most beneficial from tax point of view
Please do let me know under which head the income of this warehousing activities will be charged i.e. house property or PGBP or other sources and which is most beneficial from tax point of view
15 January 2010
If the warehousing business is being conducted as a seperate business altogether, then it would be treated as Business Income.
However, if only the extra vacant warehouses are rented to generate additional income, then it should be treated as other income.
However, if only the extra vacant warehouses are rented to generate additional income, then it should be treated as other income.
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