House property
This query is : Resolved
14 July 2014
Sir/madam ,
I am a owner of 3 house of which two are let-out and one is self-occupied and showing income under house property.
Now i am planning to open a pvt. company under which company would purchase property in its own name and whose business is of letting of house. can i do this..?
thanks & regards.
I am a owner of 3 house of which two are let-out and one is self-occupied and showing income under house property.
Now i am planning to open a pvt. company under which company would purchase property in its own name and whose business is of letting of house. can i do this..?
thanks & regards.
16 July 2014
When an assesse is in the business of letting of House Property then his income will be consider under the head of Income from House Property. Income earning from letting out property, would be assessed under House Property.
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17 July 2014
I DO NOT FIND ANY REASON WHY YOU CANNOT DO IT. BUT TAX LIABILITY MAY BE HIGHER.
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19 July 2014
Nischit sir,
I want to know that,
suppose if company is not letting a house but run the same as a hostel business then also it would be treated as income from house property or business income.
I want to know that,
suppose if company is not letting a house but run the same as a hostel business then also it would be treated as income from house property or business income.
21 July 2014
Then it will be treated as business income.
21 July 2014
Then it will be treated as business income.
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