Tax Audit For Commercial Property Rent
This query is : Resolved
16 September 2024
Sir
Mr X individual constructed Commercial Warehouse on Land and Let out to Gst Registered Person and charging GST also .
Mr X wants to shown rental income as business income and wants to claim expenses and claim depreciation on constructed warehouse .Rental Income more than 1 CR. Mr X keeps Books Of Accounts .
Whether Tax audit can be done in this case.
Thanks.
Mr X individual constructed Commercial Warehouse on Land and Let out to Gst Registered Person and charging GST also .
Mr X wants to shown rental income as business income and wants to claim expenses and claim depreciation on constructed warehouse .Rental Income more than 1 CR. Mr X keeps Books Of Accounts .
Whether Tax audit can be done in this case.
Thanks.
16 September 2024
it is taxed under income from house property only. no tax audit or taxation under business income
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