Dear all,
I have an office at a rent of 80pm. Now I transferred the right to use that property to anonter person by agreement at an considaration of 8lacs. under which head and section this amount will be taxable? is there any deduction claimed against it? remember the property is not mine.
Yes, since you are not the owner, the rental income from subleting shall be taxed under income from other sources.
| Originally posted by : Tribhuvan Aditya Singh | ||
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income from sublet should be taxed under the head income from other sources... deduction regarding expenses incurred shall be allowed. |  |
Dear Sir,
Its not seems to be subletting rather its trasfer of right to use and one time payment received.
CAclubindia
