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Renting of Commercial Property

23 October 2021

Assessee is showing Rental Income under Income from House Property & availing Standard Deductions under section 24

Can he take ITC on Office Expenses/ Bills, because as he doesn't show Income under Business in ITR

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Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (160322 Points)
Replied 23 October 2021

ITC CAN BE AVAILED, AS FOR GST ITS TAXABLE SUPPLY..

CA ABHAY GUPTA (Practice) (3230 Points)
Replied 23 October 2021

We should not see the head of income for taking ITC in GST. Both law are different thus income shown under head house property does not means that you cannot claim ITC because it is nowhere mentioned in law that the ITC can only be claim against the income shown under head PGPB in ITR filed.

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