Sub-lease
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
16 November 2013
An assessee has taken property for rent. Now he wants to sub-lease it at half rent. Is it possible to do so?
Can he set off rent expenses against rental income ?
Can he set off rent expenses against rental income ?
CA PARAS BAFNA
(Expert)
17 November 2013
He can do so if the terms of rent agreement allows him to do so.
.
Since these two are different agreements so it is better to show the rent receipts and rent expenses separately.
.
.
Since these two are different agreements so it is better to show the rent receipts and rent expenses separately.
.
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