How much tax should be paid for renting a commercial complex?
Q: I have a shop rented in Delhi NCR for past 1 year and I feel the tax I am paying is not legible. Could you please suggest what should be the tax for rental purpose on commercial complexes? Thank you.
As per Delhi High Court's order property owners who have rent in their commercial complex have to pay 10 percent tax on their rental income which came in effect from June 2007. Furthermore the tax will be applicable only on those who earn Rs 10 lakh or more from letting out their premises for commercial activity. If you are paying more then please consult with the concerned authorities.