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Rent expense
Sir,
My client has shifted its premises which is registered under vat... The intimation of change is address is to be given to vat department in the prescribed form ??? Right???
Further, for the new premises no rent agreement is made nor the rent receipt is issued... But the rent of 20,000 is paid in cash every month.... So can I claim this expenditure as far as income tax is concerned???
Replies (1)
For which state you are asking? Yes you need to intimate about the change in Address in prescribed form to VAT Authorities along with the latest rent agreement. There are different forms like Form VAT 112, Form VAT 108. Once you intimate the changes,advisory visit will be done by the concerned officer .
Regarding Incometax client should obtain rent agreement from the owner. Also in case of Tax Audit , he has to deduct TDS on rent being paid as it is exceeding Rs.1,80,000/- per Annum.
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