Deduction u/s 24
This query is : Resolved
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.
Regards.
Sonia Deval
Regards.
Sonia Deval
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.
29 June 2013
Yes it can take the benefit of Deduction 24 as well as Standard Deduction 30%
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