Treatement of 44 lac income
This query is : Resolved
Vipin Rathi
(Querist)
11 June 2013
Dear All,
our company Received Rs. 44 lac.for letting out commercial building under leave and license agreement for 5 year .
pls explain taxation treatment for particulars income . and which head should be taxable
Regards
our company Received Rs. 44 lac.for letting out commercial building under leave and license agreement for 5 year .
pls explain taxation treatment for particulars income . and which head should be taxable
Regards
CA.Sourabh Sethia
(Expert)
12 June 2013
Where property constitutes stock in trade of business or
where business of assessee is to let out property,
income is covered under the head profits and gains of Business & Profession.
where business of assessee is to let out property,
income is covered under the head profits and gains of Business & Profession.
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