Please Help: Rent exp.
Posted Date : 24-Jul-2012 , 11:58:37 am | Posted By CA. Krishnakant Agrawal
Assessee is maintaining business at ground floor of a home in which he is joint borrower, can he claim rent exp. under income tax act?
can he declare that ground floor belongs to other joint borrower and claim deduction on rent exp.?
can he declare that ground floor belongs to other joint borrower and claim deduction on rent exp.?
Category : Accounts | Answers : 1 | Comments : 1 | Hits : 199
Answers
Answer By: Krishna Chandra Santi
What are you asking dear? please clarify your question. what is joint borrower here? is it co-ownership or anything else, please clarify.
Comments
CA. Krishnakant Agrawal
25-Jul-2012 , 05:26:47 pmAssessee is co-owner of a home. He is maintaining business from ground floor of home. so can he declare or make agreement with other co-owner that ground floor belongs to other co-owner and pay rent to him for use of ground floor n claim rent exp. under income tax act?