Taxable head -rental income received by a commercial complex
This query is : Resolved
25 November 2014
If a commercial complex lets out the premises on rental basis to many tenants then, income derived by such lease is chargeable u/h business income or income from house property?
It will also provide amenities facility to its tenants
thank you in advance!!
It will also provide amenities facility to its tenants
thank you in advance!!
25 November 2014
Taxable under income from house property.
25 November 2014
Thank you sir for your prompt reply. but, what if the mere objective of the commercial complex is not only to earn rental income but to earn profit
25 November 2014
More over, in DCIT vs Golfin software park p ltd (ITAT Bangalore) case study lease rentals was treated as business income whereas in A.R. Complex v. ITO [2008] 167 Taxman 46 (Mad.) case law it was taxed under house property and other independent services as income from other sources
I am totally confused sir plz help me out
I am totally confused sir plz help me out
26 November 2014
Go by the decision of A.R. Complex v. ITO(2008) 167 Taxman 46(Mad).
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