Tax doubt

IPCC 426 views 2 replies

1.when the property of assesse is used by the firm ,to carry on business, in which he is partner, then income there from is taxable under which head?

2 in case of composite letting, when income from rent and income from furniture provided is not separable then it is taxed under which head? 

please help me guys i am confused!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

Replies (2)

In case-1- if firm will pay for rent property used then rent will taxable in tha hands of partner in house property & deduction will be allowed to the firm in sec-30....otherwise if firm will not pay rent..then annual value is not taxable in the hands of partner..and deduction will not allowed to the partner.

 

in case2--if composite rent not seprable then income will be taxed in house property head

thanku very much sir

 


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