11-14-2010, 04:38 AM
Laptop and other tax experts i have a query regarding rent. Please answer it if u can
a property is owned by 5 owners having equal share.company pays Rs.20,000 per month as rent. Annual rent is Rs.12x 20,000=240,000. Wat would be the amount of tax to be deducted by the company.
Two options will be
(1).Rent= 240,000/5= 48,000 P.a for each partner which is btl hence no rent
or (2) 240,000-150,000=90,000x5%=4500 tax liability
a property is owned by 5 owners having equal share.company pays Rs.20,000 per month as rent. Annual rent is Rs.12x 20,000=240,000. Wat would be the amount of tax to be deducted by the company.
Two options will be
(1).Rent= 240,000/5= 48,000 P.a for each partner which is btl hence no rent
or (2) 240,000-150,000=90,000x5%=4500 tax liability