Business Laws

Antenna income

| Updated on March 08, 2021

If you let out your terrace space to a telecom tower company for it to put up a telecom tower, the income you earn thereby, cheer up, is to be treated only as ‘income from house property’ and is therefore eligible for exemptions under Section 24(a) of the Income Tax Act.

This may be commonsense, but it has apparently taken judicial intervention to establish it as such. In the case between Maker Tower Premises Co. Op. Society Vs Commissioner of Income Tax (Appeals), the Income Tax Appellate Tribunal laid the matter to rest, stating categorically that the income earned from renting out terrace space to a telecom tower company is nothing but ‘income from house property’.

Published on March 08, 2021

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