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    Income Tax

    Correct head of income - letting out of Hotel/Resort as running...

    Hotel or resort revenue from management contracts should be "Business Income," not "House Property" income, aligning with business operations.

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    Income TaxJune 24, 2023Case LawsAT

    Correct head of income - letting out of Hotel/Resort as running business - treatment of revenue receipts from operation of Hotel/Resort - Contract for managing the business from the said premises on a consideration of management license basis - No fixed consideration - the revenue receipts are undoubtedly income from the Business and therefore, should be treated under the head “Business Income” but not as rental income from “House Property” - AT

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