Hello, I have recently started managing Airbnb properties. To clarify - I don't own the properties, but I lease it from owners, and with their permission and a written lease agreement, I run short-term rental on it. I pay my owners monthly lease - for my business, I manage all expenses and after all that, the net amount from the revenue left is my profit.
Now I want to understand how to do tax planning for it. My CA tells me I can claim GST, but I haven't reached that income level yet. What other options do I have? Is there any depreciation for running this business I can claim? Or any other business claims?
CAclubindia
