Regarding rent on commercial property

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Sugandh S. Vyas (Querist)
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19 October 2011 Firstly, I had confusion regarding rent on commercial property that in which head it should be assessed. But, Now i got to know that it will be assessed under Income from House Property. But can anyone provide any case law on above matter proving the same. Please Help

CA Navin Jain

CA Navin Jain (Expert)
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19 October 2011 you can considered to rent as business income or income from house property according to tax planing

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Sugandh S. Vyas

Sugandh S. Vyas (Querist)
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19 October 2011 But as per situation, i just want to assess it as Income from House Property. Please tell me any case law reference to prove it.

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CMA Arif Farooqui

CMA Arif Farooqui (Expert)
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19 October 2011 Read sec 22 of income tax act 1961. it clearly state that income from building is taxable under head house property whether it is commercial or residential.

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