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Which head it is taxable in ?

Tax queries 1004 views 9 replies

Under which head is the rent income from commercial property taxable ??

is it income from house property ?? or income from other sources ?? 

Under house property , the act says any business carried on by the assesse himself  and the interest paid on the same should be taken as expenditure in  business BUT

doesnt it make difference if someone else does business at the same place ??

isnt there any difference between residential and commercial property ?? 

please someone clearify my doubt .

thank you !!

Replies (9)
Rental income from house property is always taxable under the head 'Income from house property' whether it is ket out for commercial purpose or for residential purpose.
rent income from commercial property will also be taxable under the head "income from house property".
Agreed with namit.. in all the cases income from any property will be taxable u/s 22 except when assessee is engaged in the business of bording and legging, etc..

Your rental income will be assessed under income from house property.

The income book income from house property its correct 

thank you all ! 

for the replies !

just one thing more , an idle commercial property can also be treated as dlop then right ??

and we would be able to take all those deduction of 30% and interest right ??

a person who is running a milk dairy and who is TDS also deducted. i confused that the income are treated in which head of income ? , So plz give me advice.

 

 

@ niket..... yes you are correct
@ jagdish... income under the head pgbp if income from dairy.


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