Income from land
This query is : Resolved
21 July 2022
Dear Sir,
One of my client is having a land in his village and he gives this land on contract basis to others and earns bulk amount as income in 3 years time for using his land.
The income is deposited in my clients relative's bank account who stays in village and then the relative transfers money to my clients account.
My query is whether this income is taxable to my client as he is the owner of the land.
Please help me in this matter.
Regards,
Divyesh Jain
One of my client is having a land in his village and he gives this land on contract basis to others and earns bulk amount as income in 3 years time for using his land.
The income is deposited in my clients relative's bank account who stays in village and then the relative transfers money to my clients account.
My query is whether this income is taxable to my client as he is the owner of the land.
Please help me in this matter.
Regards,
Divyesh Jain
21 July 2022
You have not specified the usage of land, its status being agricultural or not... etc.
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