if a person receive gross amount of rs 8500000 as rent of plant and machinery on which TDS Rs. 170000 matched with his 26AS. how to file his itr?
if it is shown under other income head then is there any option to claim expenses if not can we go with BP income?
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TDS U/S 194I
Replies (5)
it will be taxable under PGBP head you can claim depreciation on plant and machinery @ 15% and other related expenses to such p&m
what are other related expenses as per my view only depreciation and interest on loan if any is deductable. what is other eligible expensea
repair and maintenance if met by owner and insurance expenses of p&m if any.
insurance expenses I agree
but who will bear repair and maintenance expenses depends on the agreement between tenant and owner
but who will bear repair and maintenance expenses depends on the agreement between tenant and owner
yes r&m expenses depends on agreement
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