hey if anybudy can answer. if a house property exists in the name of the company and a company has let out that property to its sister concern... den can that company claim deduction u/s 24....????? and can the company have a house property in its name???
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House Property
Replies (2)
Dear Bhupender Kaur,
Company and it's sister concern is two different assessee in the eyes of law.
Thus if the House property own by company and later on let out to the anyone and even to the sister concern, it will get the benefit of section 24.
Comapny is an distinct legal personality from that of it's members. thus it can own, purchase, posses and sale property in his own name... property here denotes al types of properties including house property. Thus, company can own house property in his own name....
Hope this solves u'r query..
Regards,
Manoj
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