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Treatement of 44 lac income

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(Querist)
11 June 2013 Dear All,

our company Received Rs. 44 lac.for letting out commercial building under leave and license agreement for 5 year .

pls explain taxation treatment for particulars income . and which head should be taxable

Regards
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CA.Sourabh Sethia

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CA.Sourabh Sethia (Expert)
12 June 2013 Where property constitutes stock in trade of business or
where business of assessee is to let out property,
income is covered under the head profits and gains of Business & Profession.

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