Hi,
will income from commercial premises (owned under Pagadi System ie leave and license agreement in which Tenent enjoys benefit for infinite period) will be taxed under income from house property or income from other sources if it is sublet.
CA Mitesh N Kothari (9821662799) (391 Points)
11 April 2014Hi,
will income from commercial premises (owned under Pagadi System ie leave and license agreement in which Tenent enjoys benefit for infinite period) will be taxed under income from house property or income from other sources if it is sublet.
Income Tax Wala: (Fin. Expert)
(Chartered Accountants)
(2015 Points)
Replied 11 April 2014
it is a kind of sublet hence taxable under income from other sources