Dear colleagures,
A pvt ltd. company while purchasing an industrial from NOIDA authority, has entered into
an Lease Agreement whereby they pay a PREMIUM of Rs.98 lakhs (non-refundable) and
an annual lease rent of Rs.2 lakhs. My queries are:
a) Whether PREMIUM paid can be claimed as exp under IT Act.
b) Whether TDS to be deducted on lease rent?
Pls clarify.
Rgds
Raman
CAclubindia
