Lakshmi Devanand, FCA (Proprietor -Lakshmi Devananda & Associates) (106 Points)
06 September 2011A 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.
Nitin Garg
(CA FINAL Article Trainee B.com)
(171 Points)
Replied 06 September 2011
It Will be Charged Under the head House propery after giving a standard deduction of 30%
Mihir
(Wealth Manager)
(5293 Points)
Replied 06 September 2011
Is the premises in the commercial complex coming under fixed assets of the pvt ltd?
Ronak Agarwal
(Manager)
(35 Points)
Replied 06 September 2011
It will be charged under the head house property......
Regards,
Ronak Agarwal
valji
(Accounts manager-MBA)
(2150 Points)
Replied 06 September 2011
CHARGED UNDER HEAD INCOME FROM HOUSE PROPERTY
Vikas Aggarwal
(CA )
(207 Points)
Replied 06 September 2011
income under the head house property without ant doubt
CA. Abhinav
(CA)
(47 Points)
Replied 07 September 2011
Mihir
(Wealth Manager)
(5293 Points)
Replied 07 September 2011
TDS not to be deducted from the service tax portion of the bill (only for rent)
Ramanuj
(Accountant.)
(834 Points)
Replied 07 September 2011
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.
CS Bijoy
(Expert)
(6394 Points)
Replied 07 September 2011
Come under the Income from House property and TDS will be deduct only if the exemption limit is exceed..
GSTR 9 and 9C for FY 23-24 as amended by Notification 12/2024 dated 10th July 2024(with recording)
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