House property or bunsinee

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This discussion clarifies the tax treatment of rental income received from a commercial complex. While a shop is a building, income from a commercial complex is generally considered business income. To be taxed under 'Income from house property', the property must be a building or land, the individual must be the owner, and importantly, the property should not be used for their own business or profession.

ravikanth

ravikanth (Querist)

29 December 2021 Rental Income Receipts of Individual from commercial complex of serveral rooms (i) is it offered Income from house property or business

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)

29 December 2021 It's a business income, as it related to commercial complex.

CA.Pujah

CA.Pujah (Expert)

05 January 2022 To tax the rental income under the head “Income from house property”, the rented property should be building or land appurtenant thereto. Shop being a building, rental income will be charged to tax under the head “Income from house property.
The individual should be the owner of the house property and should not be using it for his own business/ profession.

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