Lease rent on hotel
This query is : Resolved
25 February 2014
The assessee constructed a hotel with rooms and provided all the furniture and facilities for its running and leased it out to somebody
Now the question is whether lease rent received shall be assessed as Income from business/ Income from House Property.
Now the question is whether lease rent received shall be assessed as Income from business/ Income from House Property.
Akriti Bhatia
(Expert)
27 February 2014
You must book it as Income from Business as it is Business Income practically many organisations do like this & hire other person to operate hotel on lease.
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