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Sub-lease

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Querist : Anonymous

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Querist : Anonymous (Querist)
16 November 2013 An assessee has taken property for rent. Now he wants to sub-lease it at half rent. Is it possible to do so?

Can he set off rent expenses against rental income ?
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CA PARAS BAFNA

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CA PARAS BAFNA (Expert)
17 November 2013 He can do so if the terms of rent agreement allows him to do so.
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Since these two are different agreements so it is better to show the rent receipts and rent expenses separately.
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