If I form a (holding) company which consists all my assets including real estate, equity,bonds etc..Will the rent earned from commercial property taxed under house property income or buisness income.
I am asking because I can get 30% standard deduction if the rent income is considered income under house property.
8 Replies
Milan Shah
(15 Points)
Replied 01 June 2018
Does it mean Company AOA has to mention the purpose of the company as holding company?
rama krishnan
(12244 Points)
Replied 01 June 2018
it has to specify the nature of its business activities and it should include income from house property and the house property should be owned by the company
Milan Shah
(15 Points)
Replied 01 June 2018
see,This is the problem.Some say it's pgbp some say it's income under house property.
The issue is disputed :(
The issue is disputed :(
nikhilarorann@gmail.com
(10 Points)
Replied 01 June 2018
how a company can have house... so it should be considered as pgbp
Milan Shah
(15 Points)
Replied 01 June 2018
"House" includes any building.
Shop,Office, Showroom, Apartment anything
Shop,Office, Showroom, Apartment anything
nikhilarorann@gmail.com
(10 Points)
Replied 01 June 2018
if company have buisness of landing property than it shall be covered under pgbp
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