Tax Implication for holding Exhibition
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
13 January 2010
What is the tax implication if any premise either vacant or building is given on rent for holding handicraft/saree or any such kind of exhibition for a duration of 2 weeks to 1 month, thrice a year,
14 January 2010
Rent received will be treated as income from house property & taxed accordingly. Deductions u/s 24 will be available. If the rent received exceeds Rs. 1.2 lakhs, it shall be subject to TDS u/s 194I.
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