Dear Friends,,
A is a owner of a home and he is given to B on lease for 5 years, for this lease refundable amount is around 1,50,000. What is the income tax treatment to Mr. A and B? can we treat this lease amount as rent income to Mr. A and rent exepene to Mr.B?
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Replies (2)
depend upon how u treate 150000/- as rent or as a deposit (which is returned)
if rent income taxable if deposit u can show it as deposit no tax liability on it
if we show as deposit, I think we can't show under income from home.
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