Menu
Wealth tax query
a residential house which is let out for 300 days or more is not an asset under wealth tax act.. but I am still calculating the question in which rent is Given for whole year. if it is not an asset then why valuing the asset?
Replies (1)
hehe...nice logic... but unfortunately ICAI will not agree to this. To them this rent is actually FMV/Annual municipal value of the house.
Recent Topics :
- How do you collect documents from clients for ITR
- GST ITC on Construction/ Tenant Specific Renovatio
- GST Treatment and Reporting of Share & Mutual
- AGM Defective Notice
- IMS Rejection of Sales and Sales return
- Taxation of Gift - Father to Daughter
- TDS on Property Purchased above 50lakh
- Accounting Treatment in Tally for Restaurant Sales
- Form 146 required
- Rule 86(B) Applicability
Related Topics :
CAclubindia
