Capital Gains
This query is : Resolved
24 June 2010
The company has been alloted land and right to construct Building on that under a lease of 99 years. The company subleases the same on exactly the same term ( Period 99 years ) and receives rent every month for the lease term. No upfront payment has been taken by the lessor. Query: How would this income be taxed ? Will income be treated as Capital gain ?
24 June 2010
As per Section 27 if lease period is for 12 or more years then the lessee will be considered as deemed owner of the property.
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