Regarding rent on commercial property
This query is : Resolved
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
19 October 2011
you can considered to rent as business income or income from house property according to tax planing
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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.
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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