Daily Archives: August 28, 2015

damages deducted will form part of taxable value

Q Whether damages deducted by service recipients from amount payable to service providers will form part of taxable value ? Deductions made by service recipient from amount payable to service providers towards damages payable by service providers for damages caused to properties of service recipients, will form part of value of taxable value As per… Read More »

Tower rent taxable as income from House Property

Tower rent taxable as income from House Property Q :Whether  licence fee received for giving space for mounting tower and antenna on the terrace/ roof is taxable under the head Income from house property or business income ? Section 22 of the Income-tax Act, 1961 The fact remains that the use of the terrace floor has been… Read More »