PVT Ltd company has 98% of revenue from rent 2% from business consultancy,
The question is how to treat income tax for the company? Expenditures like salaries to directors, travelling expenses and conveyance expenses are admissible as Expenditure or not?
Can the business loss be set off against rental income?
can anyone suggest best methods?
If the primary business of the pvt ltd co is to let out property and earn rental income which is also stated in M&A, then the company may treat the rental income as chargeable to tax under the head business/profession.
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