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Corporate Law : Discover the latest MSME policy urging MSEs to include EM numbers on documents for better identification and compliance with incom...
Brokerage could be claimed as collection charges if as per the agreement, it is the responsibility of the broker to collect the rent but provision relating to deduction on account of collection charges in sub-clause (viii) of section 24 stand deleted from Assessment year 1993-94 and collection charges are included in the lump-sum deduction of 1/4th of annual value allowable as deduction under sub-clause (i).
It is also to be noted that Dr. Pal at that point of time tried to distinguish the said judgment in the Hamilton’s case (supra) with the judgment of Hope (India) Ltd. (supra) and submitted that there is no inconsistency in the view taken by the subsequent Division Bench in the Hope (India) Ltd case (supra) and in this subsequent decision the Hon’ble Division Bench duly considered the judgment delivered in the Hamilton’s case
Discover the latest MSME policy urging MSEs to include EM numbers on documents for better identification and compliance with income tax provisions.
