The Income Tax Appellate Tribunal (ITAT), Delhi held that the Charitable trust is not eligible for standard deduction at the rate of 30% u/s 24 (a) of the Income Tax Act, out of the rental income chargeable to tax in the hands of the assessee. The assessee is a charitable trust, filed its return of […]
The post Charitable Trust is not eligible for Standard Deduction for Rental Income: ITAT [Read Order] appeared first on Taxscan | Simplifying Tax Laws.
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