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Real Estate Forum on Rental Tax

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Q: Is the income from rent comes under income tax? Do I need to pay tax for the income from rent?

Latest Answer: Yes Ashish, the income from property rent comes under taxable income. To get more highlight on that you can read http://www.commonfloor.com/stories/naredco-wants-some-boost-up-from-finance-ministry-15139, an article on commonfloor.
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Q: rental tax to be paid by the tenant..
Latest Answer: This tax is only applicable if the annual rent of the commercial property is more than 10 lakh rupees.
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