Tax on Rental Commercial Property
This query is : Resolved
Jitendra Verma
(Querist)
09 January 2020
I had rented commercial property who's rent is 50,000/- Month. I don't have any other income source.
How much Tax would i have to pay or applicable on this.
Property is in Maharashtra.
How much Tax would i have to pay or applicable on this.
Property is in Maharashtra.
CA PARAS BAFNA
(Expert)
10 January 2020
You will not be required to pay any tax as your annual total income can maximum be Rs (600000- 180000) Rs 420000. Though Tax on this amount is Rs 8500/ but you will get rebate of 8500/- as your total income is below Rs 5.00 lac.
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