Pros & cons of buying commercial property

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

19 July 2012 Dear Sir,

I want to purchase a small commercial shop and give it on rent. I am a salaried individual and living at Thane. I wanted to know what are the pros and cons for salaried person investing in commercial property. Kindly suggest whether I should go for it or not. if not then what should be best option to invest in property.

Guest

Guest (Expert)

19 July 2012 You can surely purchase the property, only the rent recieved will be added to your income & your tax liability will go higher. Better purchase it on your family members name.

Querist : Anonymous

Querist : Anonymous (Querist)

19 July 2012 Thanks for the resonse.
Will i get tax benifit on this incase if i take loan?

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Guest

Guest (Expert)

21 July 2012 If you take it on your name, YES you will be eligible for tax benefits.