rent

maani · 01-02-2005, 11:41 PM

rent is taxed under property and
the law also states that it is taxable under income from other sources...
kia karna chahiye....

Ace

n/a6 · 01-03-2005, 12:24 AM

under Uk laws Rent is taxed under Schedule A for Companies....

Thanks........

Happy New Year

maani · 01-03-2005, 05:48 PM

what is the Schedule A....

Ace

maani · 01-03-2005, 05:52 PM

i think this would be a point where the two laws have differences...

Ace

n/a6 · 01-03-2005, 06:07 PM

<BLOCKQUOTE id=quote>quote<hr height=1 noshade id=quote>
what is the Schedule A....

Ace
<hr height=1 noshade id=quote></BLOCKQUOTE id=quote>

yes thats a differense btw Pakistani and Uk Taxation...

in for Company Taxation Income is taxed under various different Heads.....

Schedule A--- Rent and Income From Property is accessed here.
Schedule D1-- Icome From Trade.......
Schedule D 2-- Vocational Income....
Schedule d 3-- Interest
Schedule d 5-- Overseas Divident....

While Divident from Uk subsidary is known as Franked Investment Income ( Gross).............

Thanks........

Happy New Year

Ali Akbar · 01-03-2005, 10:44 PM

AOA

Rent is charged under the head Income from other sources in the following cases

In case of Sub Lease

In case of giving property on rent ALONG with OTHER property e.g along with machinery.

n/a6 · 01-04-2005, 07:05 AM

<BLOCKQUOTE id=quote>quote<hr height=1 noshade id=quote>
AOA

Rent is charged under the head Income from other sources in the following cases

In case of Sub Lease

In case of giving property on rent ALONG with OTHER property e.g along with machinery.

<hr height=1 noshade id=quote></BLOCKQUOTE id=quote>

And if rent is because of Trading purposes then it is Taxed under

Schedule D Case 1........

Thanks........

Happy New Year