whether rental income by a company come under the head PGBP or IFHP
This query is : Resolved
06 December 2016
Our company receive rental from commercial let out to emirates of which property belong to company name. Company management want it be a part of pgbp but auditor says it should be shown under ifhp. for this reason company not avail to claim business expenditure highly and we have to claim only straight 30% std. ded u/s 24(a).
Kindly provide any suggestion or proof so that we can discuss the same with auditor.
Message likes :
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Yogesh Agarwal
(Expert)
07 December 2016
You need to look into the actual nature of business.. if it is mainly letting out the commercial property then it may be charged under the PGBP otherwise the income from HP is chargeable under the head IFHP..
07 December 2016
As we all are aware of that moa & aoa are designed in the same manner for all co. however in real fact co. have only rental income
Dhirajlal Rambhia
(Expert)
31 October 2021
Charge it under PGBP, if that is the only income.
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