Whether lease and sub-lease are same
This query is : Resolved
15 April 2013
Dear Sir/madam
Please clarify whether lease and sub-lease will be treated same as per Section 269UA(f) of the Income Tax Act. Also, whether lease and sub-lease will be treated same as per Section 2(47) of the Income Tax Act.
If any case law is available, please arrange to provide.
Thanks & Regards
Ashutosh
Please clarify whether lease and sub-lease will be treated same as per Section 269UA(f) of the Income Tax Act. Also, whether lease and sub-lease will be treated same as per Section 2(47) of the Income Tax Act.
If any case law is available, please arrange to provide.
Thanks & Regards
Ashutosh
31 May 2013
If the lease or su-lease for a shorter period then it does not give any interest in the property but if it is for a longer period then the lessee gets interest in the property and he can construct accordingly and sell the property to anyone. Therefore, the provisions as mentioned by you are same for both the type of lease.
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