ST on lease rentals of college
This query is : Resolved
09 May 2011
Company is in infrastructue business. In a agreement with an educational society running college, land is given by society and building is made by Company on it and then this building is Leased out to society for its college.
Query : Will ST be charged on rentals received by Co. or it will fall under exemption category being building is leased out for educational purpose.
Further t depreciation when booked into books of COMPANY will it create problem ?
Query : Will ST be charged on rentals received by Co. or it will fall under exemption category being building is leased out for educational purpose.
Further t depreciation when booked into books of COMPANY will it create problem ?
10 May 2011
Renting of IP to colleges being educational institution is excluded in the defintion itslef and therefore not liable.
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