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Tax on long term lease on residential property

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Querist : Anonymous

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Querist : Anonymous (Querist)
17 September 2017 I am thinking of letting out my residential property on a long term lease for 50 lakhs (property value 1.8Cr). The lease period will be for 5 years. The amount will be returned back after the lease period.
The monthly rental for this property in the market is 40K. I am planning to invest this amount in my business.
How should I file my tax returns to reflect this lease agreement and how to calculate my tax liability for the same.
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CA Rashmi Gandhi

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CA Rashmi Gandhi (Expert)
17 September 2017 For this it is advisable to contact personally with near by CA who is going to handle your case

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