Income derived from letting out of property to the tenants - ...

Income from leasing in industrial parks or SEZs is taxable as business profits under government schemes.

July 15, 2020

Case Laws Income Tax HC

Income derived from letting out of property to the tenants - Industrial park / SEZ unit - in the case of an undertaking which develops, develops and operates or maintains and operates an industrial park/SEZ notified in accordance with the scheme framed and notified by the Government, the income from letting out the premises / developed space along with other facilities in an industrial park/SEZ is to be charged to tax under the head 'Profits and Gains of Business'.

View Source

← Previous Next →

Income derived from letting out of property to the tenants - ...

Income from leasing in industrial parks or SEZs is taxable as business profits under government schemes.

July 15, 2020

Case Laws Income Tax HC

You may also like:

Income from house property or income from other sources - If they are inseparable and the intention is to carry on the business of letting out the commercial property...

Allowability of deduction u/s 80-IA(4)(iii) - Additions against bogus purchases and bogus expenditure - the enhanced profit of the industrial park, is the income...

Deduction claimed under section 80-IB(10) - notify the industrial park of the petitioner under rule 18C of the Income-tax Rules, 1962 - The action of the CBDT...

Correct head of income - nature of receipt from lease/ rent - the assessee employed commercial assets to earn income. Unless and until the income is treated as business...

Nature of income - entire building was leased to tenants registered under the Software Technology Parks Scheme - Various Amenities / services were also provided -...

Income from leasing the hotel was income from business and not income from house property - AT

An application filed with the Ministry of Commerce and Industries for registration of the industrial park under the Industrial Park Scheme, 2002 to avail of...

Deduction u/s 80IA(4)(iii) - Excluding signage income - It is not in dispute that the signage income is derived from the tenants occupying the building forming part of...

Lease rent from letting out buildings/developed space along with other amenities in an Industrial Park/SEZ— to be treated as business income - Circular

Correct head of income - Income from leasing or letting out the properties in shopping-cum-entertainment Mall - “income from business” or “income from house property” -...

Correct head of income - the major source of income for the assessee is rental income. The assessee obtained long-term lease of the property and sub-leased the same in a...

Correct head of income - lease rent received by the assessee - Business of assessee taken over by the another Company as was running as JV - assessed under the head...

Set off of brought forward business loss of earlier years - We also see no conflict in an income being taxable under the head profits and gains from business or...

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...

Deduction u/s 80IA - Rental income - letting out of Industrial park buildings - Income from House Property or of business income - AT

Quick Updates: