A Pvt Company is running on Hotel Business and Catering Business. It has invested its funds in Commercial complex and earning just rental income out of it.
Kindly suggest, under what head will the Rental income should be charged. Should it be under Business income/Income from Other sources/House property Income.
What deductions and expenses can the company can claim against its income.
Thanks in advance,
Regards
Lakshmi Devanand, ACA.
It Will be Charged Under the head House propery after giving a standard deduction of 30%
Is the premises in the commercial complex coming under fixed assets of the pvt ltd?
It will be charged under the head house property......
Regards,
Ronak Agarwal
CHARGED UNDER HEAD INCOME FROM HOUSE PROPERTY
income under the head house property without ant doubt
TDS not to be deducted from the service tax portion of the bill (only for rent)
Its come under income from house property after giving a standard deduction of 30% & TDS Deducted U/s 194 I only rent not service tax enclude.
Come under the Income from House property and TDS will be deduct only if the exemption limit is exceed..
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