Tax Audit For Commercial Property Rent
This query is : Resolved
nitin gulati
(Querist)
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.
Nikhil Kaushik
(Expert)
16 September 2024
it is taxed under income from house property only. no tax audit or taxation under business income
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