CA Abhishek Singh (practice) (2106 Points)
03 August 2013Hello everyone,
one of my client has purchased a hotel for rs.20 lacs and incurred rs.300000 for lincese and rs.10 lacs on interior decoration.
He has given the same on rent for monthly rent of Rs.50000/-
i am confused as to the taxability of this monthly income ie. it will be taxable under which head and treatment of lincese fees and cost incurred on interior decoration?
waiting for the views of the experts ?
Mihir
(Wealth Manager)
(5293 Points)
Replied 04 August 2013
I think it is income from house property, and the expenses incurred toward license and decoration is capital expenditure.
Wait for others to reply.
CAclubindia
