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rent from commercial property

22 November 2017

is rent from commercial property treated as business income or house property income in case of individual , firms, company

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7 Replies

Sunil Ahmad (Student) (1511 Points)
Replied 22 November 2017

GST will be levied on commercial rental income beyond Rs 20 lakh.

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Sunil Ahmad (Student) (1511 Points)
Replied 22 November 2017

if annual rental income from commercial property is less than 20lakhs then should calculate under the head "Income from house property"

sai varun (14 Points)
Replied 22 November 2017

is that said under income tax act

Sunil Ahmad (Student) (1511 Points)
Replied 22 November 2017

Yes ,under the head"Income from house property"

rama krishnan (12234 Points)
Replied 23 November 2017

attn: Sunil, pls tell the relevant section

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Sunil Ahmad (Student) (1511 Points)
Replied 23 November 2017

Income from house property in general is taxable under the head “Income from House property” in the hands of the owner. This applies to both residential as well as commercial property. The amount of rent received from such property which is known as “annual value” is taxable under this head after deductions.