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Rent income

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(Querist)
23 July 2017 Hello,

I am a small business owner. I had purchased commercial property in the name of my wife and take a loan from bank. Loan is jointly taken in the name of mine and my wife. Loan is repaid from my proprietary concern.
Property is used by my proprietary firm.

Should I have to pay rent to my wife?

What will be the implication of GST?

Interest paid to bank should be eligible for deduction?

Please guide me.
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Dipak

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Dipak (Querist)
02 August 2017 Is there any update?

Please guide me.
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Dhirajlal Rambhia

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Dhirajlal Rambhia (Expert)
18 October 2021 Depending upon the use of the property in business, you can claim the expenses along with interest paid, but not rent to wife.




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