i have a property which i put on lease for 999 years for RS. 199800/-( annual income Rs.200/-) and also got a sum of Rs. 900000/- as lease premium now is that income from lease rent taxable income or this income is tax free plz give reffering for any case laws supporting your answer.
Menu
lease rent
Replies (2)
Yes... entire amount is taxable on receipt basis... I think payer has dedcuted TDS from it & given it you...
Dear Rahul,
Annual Income as well as Lease Premium both are taxable...
Lease premium will be taxable in the first year itself...
Recent Topic
- Is CA through direct entry easy for a commerce stu
- Dividend and withholding tax - DTAA- RSU
- NRI Query: Capital Gains Tax Exemption under Secti
- Royalty payment to UK
- Calculate ITR2 tax with equity and non equity prof
- LTCG on residential property sale - Rebate?
- TDS MISMATCH AND AIS
- Return filing for intervening period upto date of
- EPF Withdrawal taxation
- While e filing otp not generating
Related Topics
CAclubindia
