Rental receipts - limit for audit u/s 44ab

Vinod (CA in Practice) (445 Points)

13 November 2012  

Dear friends,

In case of rental receipts, (Rent from shopping mall) what is the limit for audit u/s 44ab ? 1 crore or 25 lakhs ?

Or is it not subject to audit as it is not an income under the head " profit and gains under business or profession" ?

Remember that rental income is specifically excluded if not assessibe as business income.

Please share your views.

Thanks in advance..

vinodaca74 @ gmail.com