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Partnership business income

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(Querist)
24 June 2014 sir,
A partnership business letting out its building and machinery to third party and receiving rent Rs.600000 pa. this is the only source of income of the firm, there is unabsorbed depreciation amounting to 450000,

how to treat rental income ,can i claim setoff?
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CS,CA F,Numrologi TusharSampat

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CS,CA F,Numrologi TusharSampat (Expert)
24 June 2014 yes set off is allowed in this case no restriction on it.
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jojo v m

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jojo v m (Querist)
24 June 2014 how to treat this income,wheter othersource or business income?
rent amount is inseperable
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CS,CA F,Numrologi TusharSampat

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CS,CA F,Numrologi TusharSampat (Expert)
24 June 2014 it is income from business only and set off allowed.
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CS,CA F,Numrologi TusharSampat

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CS,CA F,Numrologi TusharSampat (Expert)
24 June 2014 it is income from business only and set off allowed.
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Rupesh Jain

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Rupesh Jain (Expert)
24 June 2014 you can file return under the income form business and set off the loss of previous year.

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