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

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....usiness Closed - Let out of Godowns - House Property or Business<br> Query (Issue) Started By: - Rajendra Prasad Dated:- 28-10-2019 Income Tax<br>Income Tax<br>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 o....

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....perations 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 &#8377; 50.00 Lacs 2. Salarie....

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....s &#8377; 5.00 Lacs 3 . Interest Paid to Bank on working capital limits : &#8377; 20.00 Lacs (Still debtors are not realized and hence working capital limits could not be closed) As there was no tur....

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