Rental income in huf
This query is : Open
Querist : Anonymous
Querist :
Anonymous
(Querist)
06 November 2015
Dear All ,
Please help me i have property in the name of HUF and the rent income from this property is around 70Lakh and against expenses is Rs. 50Lakh.
My Question is
1)HUF Liable for Tax Audit ?
2)HUF Liable for Service Tax registration ?
Thanks in advance ...
Please help me i have property in the name of HUF and the rent income from this property is around 70Lakh and against expenses is Rs. 50Lakh.
My Question is
1)HUF Liable for Tax Audit ?
2)HUF Liable for Service Tax registration ?
Thanks in advance ...
06 November 2015
If it is rental income then tax audit is not applicable.. You cannot claim the expenses since 30 % standard deduction is allowed... HUF is also liable for service tax
Querist : Anonymous
Querist :
Anonymous
(Querist)
06 November 2015
But the property is office premises and the HUF is the owner ?
Thane what will be the treat under income tax.
Thane what will be the treat under income tax.
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