Lease Agrement Income, Income Tax

[kamal mall]

Z Ltd. has purchased Fly Ash Brick Plant and wants to give the Plant along with Building to one party who can manufacture Bricks and do the marketing for the same, apart from Plant & Building comp. will provide the Fly &Bed Ash for manufacturing the  Bricks.

Now query is;
1. If comp. give the Assets on Lease to XYZ Ltd then who is entitled to claim Depreciation?
2. Z Ltd. will charge Lease Rent and have to charge Service Tax or not?

Posts / Replies

[MARIAPPAN GOVINDARAJAN]

Whether you have got clarified in the above issue? If not please inform.