Movie theatre rental income treatment

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Querist : Anonymous

Querist : Anonymous (Querist)

03 July 2018 Dear Sir,

My client has given movie theatre on rent including with furniture and canteen under a single agreement for lumpsum rent. Now my question is under what head of income, the rental income shall be shown whether under "PGBP" or "Income from House Property". Please clarify alongwith any case studies.

Thank You

CA Ankit R Momaya

CA Ankit R Momaya (Expert)
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03 July 2018 Such Income will be treated as Business Income. Reffer Chennai Properties and Investments V/s CIT by SC

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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03 July 2018 Sultan Bros (P) Ltd. vs. CIT [1954] 51 ITR 353 (SC) also can be referred.

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Querist : Anonymous

Querist : Anonymous (Querist)

04 July 2018 Thank you Sir.

Another query: Can we file F.Y.2016-17 IT returns before 31st july 2018 including with fine or penalities?

CA Ankit R Momaya

CA Ankit R Momaya (Expert)
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04 July 2018 ITR for FY 2016-17 cannot be filed now unless a notice is received from the Department

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Querist : Anonymous

Querist : Anonymous (Querist)

07 July 2018 Dear Sir, My client has a citizenship in USA but does not have citizenship in India but have only PAN no. and aadhar no. in India. He was maintaining an NRO A/c in India and were TDS was deducted u/s 195 on that amount in NRO a/c. He is residing in India from past 2 years only i.e. for FY 16-17 and 17-18. Now my query is what is the residential status of my client and under which category IT return has to be filed i.e, "resident not ordinary resident" or "Non-resident". Kindly suggest me. Thanks in Advance,