Can Rent received from leting out commercial property be treated as Income from business?
Pls let me know if there is any case law relating to this issue
Thanking you in anticipation...
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Treatment of rental income from commercial building
Replies (1)
Hi..!!
Rent from commercial property is treated as incoem from house property and if the person is doing a business it can be added to his capital account...
It shall be noted if the rent is more than 10,00,000/- then service tax is applicable....
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