Chargeability of rent income from commercial property
This query is : Resolved
04 July 2017
Hello Everyone..
I have one query regarding taxability of Rent Income that has been generated from Commercial Property under the Income Tax Act, 1961
I have one property that has been rented to a Bank (Commercial Property) , the Bank give the monthly Rent after deducting the TDS.
The main question is that whether i have to offered this rent income as Income from House Property or as Profit & Gains from Business & Profession??
Please provide us is there any judgement on the same issue..
I have one query regarding taxability of Rent Income that has been generated from Commercial Property under the Income Tax Act, 1961
I have one property that has been rented to a Bank (Commercial Property) , the Bank give the monthly Rent after deducting the TDS.
The main question is that whether i have to offered this rent income as Income from House Property or as Profit & Gains from Business & Profession??
Please provide us is there any judgement on the same issue..
CA R SEETHARAMAN
(Expert)
04 July 2017
See the link it has to be treated as business income.
https://abcaus.in/income-tax/rent-from-commercial-property-taxable-as-business-income-not-residential-house.html
https://abcaus.in/income-tax/rent-from-commercial-property-taxable-as-business-income-not-residential-house.html
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