Under leave and license agreement a license fee is charged as compansation for the occupation of the property/shop/office space. Is this considered as Rent and/or qualify for deductions towards maintenance of property at the end of year while calculating tax?
1 Replies
Ashvin Bhanderi
(ACCOUNTANT)
(59 Points)
Replied 27 August 2011
Yes... You can claim as expenditure for the license fees whatever you pay U/S. 37 of Income Tax Act...
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