Advance paid for a building taken on rent
This query is : Resolved
01 February 2014
i have taken a building on rent rs 10000 per month, i have paid advance of rs 10,00,000 while agreeing to the terms. it is a commercial building. uaually advance will be calculated at 10 times of yhe rent, it comes to 1 lac. So the difference of Rs 900000 will be taxed or what??
01 February 2014
If this is refundable security deposit, no tax.
02 February 2014
trustee has given his building on rent to the trust, monthly rent is 12000, security deposit taken is 1200000. is this violating sec 13(3) of IT act 1961. do u have any case laws for it?
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