1.whether we take on lease land and building with plant and machinery?
2. who take depreciation on land and building and plant and machinery?
3. lease rent income show as business income or land and building income as house and property and plant and machinery as business income ?
1. whether we take on lease land and building with plant and machinery?
Taking a lease on land, buildings, and plant machinery is a common practice in business, particularly for entrepreneurs and companies that require physical assets to operate. Leasing allows businesses to access and utilize these assets without incurring the full cost of purchasing them outright.
3. lease rent income show as business income or land and building income as house and property and plant and machinery as business income?
Rental income is often considered business income rather than income from a house/property or land/building. This is because rental income is generated from the use of property or assets for commercial purposes, which is considered a business activity. mr mine
It is important to note that tax regulations may vary between jurisdictions and there may be specific rules and provisions that apply to rental income from different types of real estate or assets. different.
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