Nature of business

Rental of immovable property is mostly assessed under 'IFHP'; unless it is your specific business activity.

It is assessed as Income From House Property (i.e IFHP) (and not as business income)

Of course, it is supply of service....... and tax-exempt for residential rental supply...

Only non-residential rental supply is charged GST at 18% (provided supplier is registered)........

Code :  '997212'  ... Rental or leasing services involving own or leased non-residential property .........