Income from Rent
This query is : Resolved
16 November 2008
Dear Sir,
Our Company is into developing and Leasing of Properties
My company developed a factory building on 99 years Leased Land and given on Rent to our sister concern which is into manufacturing of Tools Dies and Punches for pharmaceutical company the income which is arrived by way of rent will be treated as income from House property or income from business profession
Regards
Ravi Konda
Our Company is into developing and Leasing of Properties
My company developed a factory building on 99 years Leased Land and given on Rent to our sister concern which is into manufacturing of Tools Dies and Punches for pharmaceutical company the income which is arrived by way of rent will be treated as income from House property or income from business profession
Regards
Ravi Konda
16 November 2008
It is income from house property. Ref:- CIT Vs.Bhoopalam Commercial Complex & Industries (P) Ltd (2003)262 ITR (Kar).
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