Exemption for residential rental clarified: personal-capacity renting by a proprietor qualifies when not on behalf of the business. The notification inserts an explanation to S. No. 12 clarifying that the exemption for renting of residential dwelling covers renting to a registered person who, though proprietor of a proprietorship concern, rents the dwelling in his personal capacity for use as his own residence and where the renting is on his own account and not that of the proprietorship; it also omits S. No. 23A and related entries, with the amendment effective from the start of the relevant tax year.
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Exemption for residential rental clarified: personal-capacity renting by a proprietor qualifies when not on behalf of the business.
The notification inserts an explanation to S. No. 12 clarifying that the exemption for renting of residential dwelling covers renting to a registered person who, though proprietor of a proprietorship concern, rents the dwelling in his personal capacity for use as his own residence and where the renting is on his own account and not that of the proprietorship; it also omits S. No. 23A and related entries, with the amendment effective from the start of the relevant tax year.
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