Rental Income

[JEEVANANDAM K ANANDAM]

Rental receipts from commerical complex used for the purposes of departmental store. The same receipts has been paid after deducted TDS U/s. 194I.  I would like know whether rental receipts taxed under income from property or income from business ?. Please let me know such discrepancies regarding.

Thanks,

By

K.Jeevanandam

Tax Consultant

[CAGOPALJI AGRAWAL]

Per your querry, it would be rental income only.

[JEEVANANDAM K ANANDAM]

Thank you sir

AI Summary

Rental income treatment: receipts from commercial premises used by a departmental store are taxable as rental income, not business income. Receipts from a commercial complex let to and used by a departmental store, with TDS deducted under the relevant provision, are to be treated as rental income and characterised as income from property rather than income from business, because they arise from the grant of a right to occupy or use immovable property.