Can anyone please tell meaning if 'ground rent' in simple language
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Ground rent
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In respect of?
does it have different meaning in respect of different things...?
HIndi meaning as per google is भूमि किराया
Do you have query for some specific case?
I have read it in one question of income tax act.
Its like Normal Rent... Covered in House Property
If ground is given on rent than it will be treated as other sources or PGBD but not as house property because there is no building
Any income, arising out of vacant land, is not covered under the head house property even though it may be received as rent, ground rent or lease rent. Such income would be assessable as income from other sources. Even rent, arising out of open spaces, or quarry rent, is taxed as income from other sources.
rent paid under the terms of a lease by the owner of a building to the owner of the land on which it is built.
thanks everyone
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