Sub lease income
This query is : Resolved
11 October 2013
I have taken a premises on Rent and Given on Sub-Lease. I want to know under Which head should I show the Income From Sub-Lease.
And what are the expenses allowed in Sub-Lease. Like in Income from Property deduction @ 30% is allowed.
Thanks
And what are the expenses allowed in Sub-Lease. Like in Income from Property deduction @ 30% is allowed.
Thanks
12 October 2013
Income from sublease shall be taxed under "income from other sources. Any expenditure wholly and exclusively made to earn this income shall be allowed as an expense.
Deduction under Section 24B won't be allowed.
Deduction under Section 24B won't be allowed.
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