Exemption u/s 11 - reasonableness of payment rent to school ...

Income Tax

September 9, 2022

Exemption u/s 11 - reasonableness of payment rent to school buildings and also computer hirings rents to the trustees - The rental agreements clearly mention that besides building other amenities like furniture, electrical fittings, parking and open ground was also used by the trust. AO is not correct in making comparison with the municipal valuation and the assessee has made excessive payment to the trustees. - AT

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Exemption u/s 11 - reasonableness of payment rent to school ...

Income Tax

September 9, 2022

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