Land lease
This query is : Resolved
29 October 2015
please help.me out with this .I am opening a school for which I have formed a trust. I have the land in my mother's name.what I am planning as property in the name of trust is a delicate issue I am planning to lease the land to the trust and where there will be a lease agreement between trust and my mother where she will get lease rent.also as the land will be leased to trust and as the trust does not have any funds to construct the school building in the lease agreement there will be a clause that owner of the land will construct the school building for the purpose of the school and against which he will get rent as agreed upon and there will be a separate rent agreement renewable yearly between the trust and the owner .so the land owner will get lease rent as well as buildind rent and there will be no property in the name of the trust. Is this process OK as per laws .I am in a deep fix .Please advice me
thank you
29 October 2015
Trust can take on rent land and building for running school. There can be no property in the name of the trust.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Opting our of sec 44AD
- INTEREST APPLICABLE ON ITC REVERSAL PORTION
- LC charges in relation to Asset purchased should be Capitalised ?
- Copyright software
- Value of property in capital gain
- SALE OF MOTOR CAR BY REGISTERED INDIVIDUAL
- Regarding TDS Applicability For Director Remuneration
- Transporter Declaration form
- Multiple trade mark
- Sale Incentive booking
- GST Treatment of Insurance Commission for Existing GST Holder
- Cash gift by grand mother to her grand daughter
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
- No Compliences after incorporation
- USEFUL LIFE OF USED/SECOND HAND COMMERCIAL VEHICLES
- Claiming TDS deducted by builder on Hardship compensation and Corpus
- Address Change to another state of a Registered Trust with 12AB approval
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
