Rental income from commercial property

My dad has leased out commercial property @ Rs 30000/- per month.
Rent is recerived after TDS deduction @ 10%  = Rs 27000/- per month.
What would be the taxable income and net tax payable of my father with regard to this rent received?
Please help and elaborate with calculations if possible. Also provide any ways of tax planning/saving regarding the same. Thanks.


Your Total income would be 30000*12= 360000.

You will get deduction for Muncipal Tax payment.

You can avail 30% of above net as standard deduction.

rest will be taxed at slab rates applicable for you.

Tax Consultant

Your dad has no taxable income as per computation below:

Rental income -                                                      360000

Less:30% standard deduction                            108000


Income from house prty                   :                   252000


Tax Liability                                        :                    9476

Less: TDS                                         :                  36000

Tax refundable                                  :                  26524            


Thanks a lot Mr. Sumanth and Mr. Sivaguru! Really helpful information! :)

Section Officer

I have commercial booth in market of urban estate which having Rs 22000/ rent PM. Please tell me whether it is mendatory to deposit TDS by the tenant or not my rental agreement of 11 months. Can i submit my return along with my salary income plus rental income at the end the financial year and Income tax may be deposited as per admisibility please.


Pls tell me how did you calculate tax liability of 9476 ?


A person rented his commercial premises on 4th October 2018 for rent of 2 Lakhs and his first rent recieved on 5th November with TDS deduction 10% and municipal tax deductions 60000 RS.. What is his tax to be paid?
Partner at N. Gamadia & Co.

When the Total Income is Rs 252000/- the person is eligible for rebate, There shall be no tax liability and full amount of TDS shall be claimed as refund.

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