29 June 2013
Pls Confirm me that Can a Private limited company take deduction U/s 24 of Stat. Deduction of 30% on rental income where Company get a rental income from commercial factory let out.
29 June 2013
If the intention of the company is permanent and it is not a composite letting, then income can be offered under 'income from house property' and the statutory deduction u/s 24(a) can be claimed thereon.
CAclubindia
