Starting a firm
This query is : Resolved
02 September 2011
Say someone starts a firm, and occupies a room in the office of one of the relatives to begin with.
Are there any tax implications. Any sort of deemed rent or HP income for either parties??
Thank you.
Are there any tax implications. Any sort of deemed rent or HP income for either parties??
Thank you.
02 September 2011
no such obligation of rent, if both parties mutually agreed upon, then they can make agreement for "rent free table space" also. but it needs a documentary evidence to prove the existance at the place.
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