banner_ad

Lease Income

This query is : Resolved 
Profile Image

Profile Image

(Querist)
16 September 2009 Hi

How the income from lease transactions be treated as per Income tax Act and Companies act
Profile Image

Zeeshan

Profile Image

Zeeshan (Expert)
19 September 2009 depends upon the business of the assessee.

income tax
lease of house-IHP(whether business or not)
lease of others-PGBP(if business of leasing)
lease of others-OS( if not a business.

same in the companies act you have to credit it to p & l account.
if business- turnover
if not a business- other income.

however in case of Finance Lease the treatment will be different in books of account. the same will be treated as repayment of leased assets. as the lease arrangement will be treated as hire purchase or financing of an asset.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now


CCI Pro
Join the CA Students WhatsApp Community for ICAI Updates, Trending Courses & Notes!


Similar Resolved Queries


loading


Unanswered Queries


banner

Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Subscribe Now

Follow us
add to google news



Answer Query



Quick Links



Browse by Category




Latest Job Openings

View all
Company
Featured 02 May 2026
Senior Executive

hitesh chandwani & co

Pune

B.Com

View Details
Company
Featured 29 April 2026
Manager- Finance and Compliance

Naveen Fintech Pvt Ltd

Kolkata

CA Inter

View Details
Company
Featured 14 April 2026
GST CONSULTANT

Abhishek G Agrawal & Co.

Korba

CA Final

View Details
Company
Featured 13 April 2026
GST CONSULTANCY

Abhishek G Agrawal & Co.

Korba

CA Final

View Details
Company
Featured 28 March 2026
Accountant

Ashok Amol & Associates

New Delhi

B.Com

View Details
Company
Featured 28 March 2026
CA Final

Ashok Amol & Associates

New Delhi

CA Final

View Details
Company
Featured ARTICLESHIP 19 March 2026
Article Assistant

Gupta Sachdeva & Co. Chartered Accountants

New Delhi

CA Final

View Details
Company
Featured 14 March 2026
Associate CA

N N V Satish&co

Hyderabad

CA

View Details