Rental income under which head taxable
This query is : Resolved
07 January 2022
Sir,
Assessess rental income from commercial property received.
Question:
Rental income is show under house property or business income or other sources head treatment in it act.
Assessess rental income from commercial property received.
Question:
Rental income is show under house property or business income or other sources head treatment in it act.
07 January 2022
It's commercial property show it as business income.
07 January 2022
If the company is not under rental business then show it under Income under the Head House Property.
If the company is engaged in letting out its open spaces for rent then rental income will be Income from Business/Profession
If the company is engaged in letting out its open spaces for rent then rental income will be Income from Business/Profession
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