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karthik hs   29 July 2021

Furniture rent income as business income

Dear sir/madam,

I'm a commercial building owner. A new tenant is asking me to get it furnished. Can any of my family member(spouse/children) invest and  provide furniture on rental basis or as vendor (furniture business) and collect rent for that as business income? 

Building rent for me and furniture rent for other family member who has less income? 



 2 Replies

Nidhi

Nidhi (Chief Accountant)     31 July 2021

Yes, you can..
but prepare proper document like ownership of furniture.. invoice of purchase or making of furniture on that person's name ect.
Sourav

Sourav (Student)     31 July 2021

Yes you can do no problem

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