Purcahse propery outside india

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aarya (Querist)
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28 February 2022 wish to purchase residential property outside india , how it will show in balace sheet and prpoerty will give in rent . so please how to show transaction in books of account

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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01 March 2022 Declare it under Investment head.
For Resident Indian, rent income would be taxable in India. Credit it to rental income.

aarya

aarya (Querist)
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01 March 2022 i am receiving already receiving rent from two property but one is sop and one is commercial which is vacant ,, so how to show rent on vacant propery

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Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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01 March 2022 If it is vacant, how can you receive rent over it?
Declare it as Self Occupied (though vacant).