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Sub lease transaction

Jun-8th-2011

X co. have taken a land from govt for 100 years and now wants to sublease the same to another party for balance period for a one time lump sum consideration , say 99 yrs.

Whether the transaction can be considered as deemed sale or sub lease? Whether the sale proceeds will be treated as business income (sale ) or lease rent (rent)?

CA Sandeep Soni

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