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Rent from Commercial Flat

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(Querist)
01 February 2011 Will Rent received on letting of commercial premises be treated as business income or income from house property? What will be the treatment to interest paid on loan taken for such premises and depreciation? Is standard deduction of 30 is allowable from Rent income?
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Sunil Kr. Sanganeria

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Sunil Kr. Sanganeria (Expert)
01 February 2011 Rent received should be treated as business Income and dpreciation and interest paid on loan taken for such premises will be allowed against rent received
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