leese agreement
girish narayan nemade
(Querist) 05 January 2011
This query is : Resolved
Dear sir;
I reside with my relative in ahmedabad and i have a query on if I produce a leese agreement for my concreate address proof even I m not paying any leese to my relative.
or if i specify some amount of leese in the agreement and dont pay it to my relative will he face any problems in income tax or for filing ITR if there is no entry of the amount specified in the agreement.
Please guide me for the above situations should i make a leese agreement or shall i proceed for affiduate in some cases affiduate doesnt work. i on my own intrest want to proceed for an agreement.
waiting for a early reply
regards
girish n nemade
9978927077
Bhawani Mahapatra
(Expert) 05 January 2011
Dear Girish
Always remember that without consideration, there is no contract, so in order to make a valid leasse agreement, you must have me mention consideration. It is immeterial whether you are paying lease rental or not to the lessor. Once your lease agreement is valid, it can be taken as proof of your residence, but not always.
