Income tax
This query is : Resolved
03 September 2014
Hi all, A manufacturing concern (Partnership firm) has given a part of its building on rent of Rs. 4 lacs/year. What should be the tax treatment for the rental income, whether it will be taxable as the income of firm @ 30% flat rate or as the income of partners at slab rate.
03 September 2014
hi
It will be taxed under House property unless business of firm is to renting out property.
Thanks
It will be taxed under House property unless business of firm is to renting out property.
Thanks
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