Director of the company receive no rent from a private company in which he is director. whether Notional rent is taxable under house property?
whether we can apply the exception of sec 22 of income tax act (i.e. whether we can say that the companies business is the business of the owner-ie.director)
i m unable to find any legal decision regarding this issue
12 December 2009
No; the Director and the Company are separate legal entity. Business is being run by the Director for the Company. Hence it is the business of the company.
CAclubindia
