Business Closed - Let out of Godowns - House Property or Business

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..... Business Closed - Let out of Godowns - House Property or Business
Query (Issue) Started By: - Rajendra Prasad Dated:- 28-10-2019 Income Tax
Income Tax
ABC is a Small Private Limited Company. .....

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..... After carrying manufacturing activity for 20 years business was discontinued in FY 2017-18. The Factory was closed , Machinery was removed and part of the machinery was sold. There are no sales or .....

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..... operations in the year FY 2018-19. The company will not carry any business in future. But godowns were let out. Company incurred the following amounts. 1. Gratuity Paid ₹ 50.00 Lacs 2. Salari .....

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..... es ₹ 5.00 Lacs 3 . Interest Paid to Bank on working capital limits : ₹ 20.00 Lacs (Still debtors are not realized and hence working capital limits could not be closed) As there was no tu .....

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..... rnover can we claim these expenses as business loss. Rent from godowns are to be treated as house property or business income. Please clarify.
Discussion Forum - Knowledge Sharing .....

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