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Income Tax - Highlights / Catch Notes

Home Highlights February 2018 Year 2018 This

Deemed rental income - the unsold flats which are stock in trade ...

Income Tax

February 28, 2018

Deemed rental income - the unsold flats which are stock in trade when they were sold they are assessable under the head ‘income from business’ when they are sold and therefore the AO is not correct in bringing to tax notional annual letting value in respect of those unsold flats under the head ‘income from house property’. - AT

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