Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding
  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram
Income Tax - Highlights / Catch Notes

Home Highlights May 2018 Year 2018 This

Computation of income from house property - the land does not ...


Exclude Lease Rental from Annual Value Calculation for Taxpayer-Owned Superstructure on Leased Land.

May 3, 2018

Case Laws     Income Tax     AT

Computation of income from house property - the land does not belong to the assessee and the superstructure belongs to the assessee. - for computing the annual rental value of the building, the lease rental paid or payable by the assessee as per lease deed has to be excluded. - AT

View Source

 


 

You may also like:

  1. Leased rental received - Income from house property - During the first year of lease he has agreed to receive the 60% profit of the business as annual rental income but...

  2. Input Tax Credit (ITC) - upfront lease premium - The upfront premium made is the lease rentals as per the allotment order/letter of Chennai Port Trusts and it is nothing...

  3. ITAT upheld CIT(A)'s decision allowing deduction of Finance Lease Rental Payments under section 37(1) as revenue expenditure. Revenue's appeal challenging depreciation...

  4. Important advisory for e-Invoice for Taxpayers having annual turnover exceeding ₹ 20 Crores - SGST

  5. FORM GSTR-9A - Annual Return (For Composition Taxpayer) - Goods and Services Tax

  6. Annual value determination - Estimating the value of the house property - assessee should be granted vacancy allowance.

  7. Disallowance on account of lease equalization – if the annual leasing charge is equivalent to 30% of the value of leased assets, the assessee would debit its P&L account...

  8. Deduction of lease rentals for the equipment - lease rentals agreed between the parties were so crafted that they substantially cover present fair value of equipment -...

  9. Addition under the head income from house property - A.O is directed to reduce the expenses incurred by the assessee for rendering additional services to the tenants for...

  10. The Income Tax Act did not intend to tax deemed rental income from properties held as stock-in-trade prior to the assessment year 2018-19. Section 23(5), introduced from...

  11. Income from house property - notional rental income - no efforts were made by the Assessing Officer to determine the monthly rental/rate at which the Leased Property...

  12. Levy of tax on lotteries - Valuation - when prize paid by the distributor/agent is not contemplated to be excluded from the value of taxable supply, we are not persuaded...

  13. Income assessable under the head ‘Income from House Property’ - The adoption of an enhanced rate does not breach the theory of real income inas- much as what the law...

  14. Input tax credit (ITC) - The lease rental paid during the pre-operative period should be treated as part of the cost of goods and services received for the purpose of...

  15. Cancellation of lease deed by NOIDA did not confer the Corporate Debtor the status of a tenant holding over within Section 116 of the Transfer of Property Act, 1882....

 

Quick Updates:Latest Updates