Can a shop be treated as a self occupied property ??
Note that the assessee does not have a residential house in his name and does not do any business , he has only 4 shops can he treat 1 shop as self occupied property ??
Shop as self occupied
Replies (9)
No you can not treat shop as self occupied house property because shop is not a residential house property
Agreed with Mr. Sachin
Heads of Income Is : Income From House Property
Shop is not a HP
Agreed with Mr. Sacnin
Agreed with mr. Sachin
But rent from shop is taken under income from house property so why can't we treat shop as house property
Shop cannot be treated as self occupied property as it is used for the purpose of business. Can't be charged under section 22.
There can b 2 answers if shop is rented then it will b treated as house property and income taxable if used for business then nothing is chargeable
Shop cannot be treated as self occupied property as it is used for the purpose of business. Can't be charged under section 22.
The value of any building occupied by the assessee for bus or prof is not chargeable as income from hp....
Recent Topics :
- Bill-to-ship-to material at client site, project c
- Export previously now to be considered domestic sa
- Pan surrender via online
- EPFO Portal Issue – Unable to Save Employee
- Plant & Machinary
- ITC reversal after supplier amended the recipient
- GIFTS TO USEFUL CONTACTS ON FESTIVALS INCOME TAX
- INTEREST ON REFUND OF TDS
- Input tax claim related
- User not found in MCA portal
Related Topics :
CAclubindia
