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Hi everyone....I have rented my equipped buildi...

Hi everyone....

I have rented my equipped building to printing company at an annual rent of 15000000. I do not have any other source of income. Under which head should I show this rent for furnished building as rent is charged for both building and other assets?

Hi everyone....

I have rented my equipped building to printing company at an annual rent of 15000000. I do not have any other source of income. Under which head should I show this rent for furnished building as rent is charged for both building and other assets?

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Jeeba Lal Jun. 14, 2018

This is a case of composite rent.
Composite rent includes rent of building and rent towards other assets or facilities. The tax treatment of composite rent is as follows:-

(a) If you can not bifurcate the rent charged for building and other assets, rent of 1500000 chargeable under the head “Profits and gains of business and profession” or “Income from other sources”, as the case may be.

(b) If rent charged for building and other assets are separable, then rent of building will be charged to tax under the head “Income from house property” and rent of other assets will be charged to tax under the head “Profits and gains of business and profession” or “Income from other sources”, as the case may be.

Hi everyone....

I have rented my equipped building to printing company at an annual rent of 15000000. I do not have any other source of income. Under which head should I show this rent for furnished building as rent is charged for both building and other assets?

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