Mr.X has let out Plant & Machinery in p.y.10-11....Under which head his income shall be taxable & why????
6 Replies
RAKESH
(Almost CA)
(2199 Points)
Replied 12 February 2011
| Originally posted by : RADHEKRISHNA0001 | ||
 |
IF LETTING OF P AND M IS PERMANENT BUSINESS THAN IT WILL BE TAXABLE UNDER THE HEAD PGBP. OTHERVISE IN OTHER SOURCES |
 |
santhisundaramg
(articledassistant)
(434 Points)
Replied 12 February 2011
| Originally posted by : RADHEKRISHNA0001 | ||
|
|
IF LETTING OF P AND M IS PERMANENT BUSINESS THAN IT WILL BE TAXABLE UNDER THE HEAD PGBP. OTHERVISE IN OTHER SOURCES |
|
CA Himanshu Bansal
(Risk Manager)
(2345 Points)
Replied 12 February 2011
If its a business regular in nature, then it will come under PGBP.
Otherwise, Income from other Sources !
Nabeel
(CA)
(3288 Points)
Replied 14 February 2011
If letting out is regular, then PGBP
otherwise, IOS
kanak namdeo
(bhopal)
(33 Points)
Replied 14 February 2011
If businessis regular in nature, then it will come underthe head PGBP.
Otherwise, Income from other Sources !
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