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25 December 2013 The assessee i.e. lessor had given land & building on rent to lessee. The lessee entered into agreement with lessor for extending lease period for 99 yrs. and right to redeveloped the property & in return received premium from lessor. whether premium received in taxable as rent income and subject to TDS
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25 December 2013 Ya it would be covered under section 194 I.
Read the defination of Rent
(i) “rent” means any payment, by whatever name called, under any lease, sub-lease, tenancy or any other agreement or arrangement for the use of (either separately or together) any,—

(a) land; or

(b) building (including factory building); or

(c) land appurtenant to a building (including factory building); or

(d) machinery; or

(e) plant; or

(f) equipment; or

(g) furniture; or

(h) fittings,

(whether or not any or all of the above are owned by the payee;]
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