If a private company states Renting of property and allied services as its business in the object clause, will the rental income thereafter be treated under House Property or under PGBP?
The company in question provides rental space and AC and Generator Services, charges AC and Generator Service income under PGBP and Rental Income under House Property.
Menu
Appropriate Head of Income for IT
Replies (2)
Such rental income from property would be considered as Income from Business and Profession.
Profit & gains from business & profession is the appropriate head.
Recent Threads
- Gstr3b relationship
- Section 194T – TDS on Payments to Partners:
- Tax planning with HUF
- FCN ( Financial Credit Notes) Treatement in Books
- Indemnity bond notarization for Income Tax (NRI ou
- GST - RCM - for Commercial Building Rent
- Exemption from Penalty for delayed Board meeting
- TDS ON PROFESSIONAL FEES IN NON AUDIT CASE
- Penalty are applicable on short payment of GST
- Closing Stock111
Related Threads
CAclubindia
