Q:Hi I have a residential row house to let in Surat, Gujarat under Surat Municipal Corporation jurisdiction.I also have a prospective tenant. My question is this tenant would like to use my residential property for his office (commercial) purpose. Society members/chairman DO NOT have any issue with this arrangement.But I would like things on documented and the right way.1 - So, what formalities I have to do in order to get any clearances(local corporation) required if any.2 - what does the tenant have to produce for the same?3 - what are the tax implications?4 - what kind of agreement is ideal for tenure of 1yr or 3yrs.
Latest Answer: Thank you all, I have the acceptance from the housing society.
Also the nature of business is a Management consultancy who just needs space for team to work, most of the work would be at their clients place.
