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Income Tax - Highlights / Catch Notes

Home Highlights October 2018 Year 2018 This

A land premium is nothing but a revenue receipt in the form of ...

Income Tax

October 1, 2018

A land premium is nothing but a revenue receipt in the form of advance rent which has loosely been named as land premium. Since the assessee is showing annual rent on account of such leasing of the plots, there is no reason why the advance rent received should be taxed accordingly.

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