Is rent received by an Indian resident from Russian Embassy in India included/excluded in domestic territory of India
Is rent received by an Indian resident from Russian Embassy in India included/excluded in domestic territory of India
No,
It will not be included in the domestic factor income as rent received by Indian resident from Russian Embassy will be a part of factor income received from abroad as Russian Embassy is not part of domestic territory of the country.
Explanation:-
Only Profits earned within the domestic territory of India by residents and non-residents are included in the domestic territory of India.
As the Russian Embassy in India does not lie in the domestic territory of India, rent received by an Indian resident will not be included.
But, his rent received would be included in the National Income as factor income from abroad.