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Jayanta (Service)     08 October 2013

Operating land lease & taxes

A Manufacturing unit has taken land on financial lease ( against monthly rental) and constructed school building for employees's wards and local people. Landowner is paid after 10% tax deduction at source. My reading is that it is also exposed to other taxes but I am not clear. It also requires registration as it is for 60 years' lease and building value is much more than vacant land. Please guide me.



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