assesse is individual engaged in gym business and have bought machinery costing 30lacs by borrowing funds from its other firms as unsecured loans on a rented property. what is the treatment if he wants to sublet gym and fix his income from third party and how can he claim benefits of depreciation and under which head income will be chargeable to tax?
whether it will be considered as business income or rental income or operating lease please suggest
CAclubindia
