I have a Client who has a Shop and very small part of the shop say a pillar is given to an advertisement agency for display of advertisement on which the advertisement agency is given monthly sum.
This is the case of sale of part of space of commercial property for display of advertisement and all maintenance activity for the advertisement including repairs are to be borne by my client.
What is the nature of Income is it taxable as Income from House Property or Business
Sum received from Advertisement agency is considered under Income from Business as other Income from an Advertisement agency. Income generated from Business property and whatever expenses should be bear by the owner himself should also be chargeable to business expenses.
SSGS and Associates
Chennai
CA Inter
View Details
Aggarwal Sarawagi and Co
New Delhi
CA
View Details
CAclubindia
