09 April 2009
Thanks Mr. Shrinivasulu,Mr.Nitin,Mr.Tarun for your kind reply.
A company's object is to develope properties. It have 3 offices which it gives on rent.During the year a office remain vacant for full year can I.T. officer calculate annual value of this property and charge accordingly. As I know this can be done only in residential property . Please clarify.
whether company can claim expenses like ROC fees , Audit fees as the income is house property income. whether we can claim the expenses as business expenses .
09 April 2009
check the company memrandum if the company memorandum show it one caluse of affires of company is businees of renting of immovable property. and in its income tax return company claims rental income as business income and adjust the all expenditure life professional fees roc expenditure and other expenses also. so check ur case sir.
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