Mr.X has let out Plant & Machinery in p.y.10-11....Under which head his income shall be taxable & why????
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Income Tax
Replies (6)
| Originally posted by : RADHEKRISHNA0001 | ||
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IF LETTING OF P AND M IS PERMANENT BUSINESS THAN IT WILL BE TAXABLE UNDER THE HEAD PGBP. OTHERVISE IN OTHER SOURCES |
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| 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 |
|
If its a business regular in nature, then it will come under PGBP.
Otherwise, Income from other Sources !
If letting out is regular, then PGBP
otherwise, IOS
If businessis regular in nature, then it will come underthe head PGBP.
Otherwise, Income from other Sources !
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