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COMPENSATION & RENT AGREEMENT ( LEASE AGREEMENT )

This query is : Resolved 

10 October 2020 We have given our plant and machinery on lease for a period of three years as per lease agreement. The amount paid by renter to our company is being shown as rent paid in the books of accounts of the renter but in our books of accounts is being shown as COMPENSATION. Whether is allowable by the income tax department to shown rent received as COMPENSATION.

10 October 2020 RENT AND COMPENSATION BOTH ARE DIFFERENT AND CAN NOT BE ALLOWED IN IT
RENT = किराया
COMPENSATION = नुकसान भरपाई

10 October 2020 tks for yr guidelines






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