General query
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
08 November 2014
A person is having a vacant land, & thinking to let it out as stadium, however he will borne many expenses like maintenance of grass, security, pavilion, cleaning of playground & premises, pavilion, maintenance of boundry wall, grill, etc.
The rent so received where shall be taxable:
1- U/h O/S (As vacant land)
2- U/h PGBP (As it is a business)
3- U/h H/P (As pavilion, public sitting area,& land attached thereto)
The rent so received where shall be taxable:
1- U/h O/S (As vacant land)
2- U/h PGBP (As it is a business)
3- U/h H/P (As pavilion, public sitting area,& land attached thereto)
Amol S Joglekar
(Expert)
08 November 2014
In the normal course it is taxable as income from house property. (From your query it sounds as if there are 2 separate contracts...one being renting the ground... and second is the person taking it on rent giving the maintenance contract to landlord...is it that way?)
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