is section 35 AD applicable only to companies....if not is it applicable to 3 star hotel started by a partnership firm....
thx....
tabrez khan (partner) (109 Points)
22 February 2012is section 35 AD applicable only to companies....if not is it applicable to 3 star hotel started by a partnership firm....
thx....
mannu
(1/2 CA)
(589 Points)
Replied 22 February 2012
yes,, it is allowed to any assessee carrying on specified busines...!!!!specified business includes,,,
'building and operating anywhere in india, a new hotel of two star or above category ..such business should commence its operation on or after 1-4-2010'...
tabrez khan
(partner)
(109 Points)
Replied 22 February 2012
thx a lot mannu....i had one more doubt...itr 5 which is applicable for firms does not have the column for claimin the deduction...so under which column i need to claim the deduction...thx....
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