Income from let out of commercial property
This query is : Resolved
29 July 2022
My relative purchased commercial property (small shop) and given let out. This income should be shown under which heads of income? . Can I treat this income as income from house property or not, please help.
29 July 2022
Yes, it can be declared u/h. Income From House Property.
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04 August 2022
Income of rent from whether a residential or a commercial property will be taxed under head of “Income from House Property”. It is just that Nomenclature is “Income from House Property”; however, this income from house property will include income from any buildings or lands appurtenant thereto without any distinction as to whether it is a commercial property or a residential property.
Author: Advocate Ravish Bhatt
Gmail: ravishdbhatt@gmail.com
Link to Linkedln Profile: https://bit.ly/3IDGfsU
Author: Advocate Ravish Bhatt
Gmail: ravishdbhatt@gmail.com
Link to Linkedln Profile: https://bit.ly/3IDGfsU
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