Question ID :
40551
Income received from Air BNB
Client has listed property on AIRBNB and getting a rental income from the same. What is taxability of income and deductible of expenses.
Posted by
Nitin Porwal
on
Jan 24, 2020
Filed Under
DIRECT TAXES
The said rent has to be offered by the owner of the house under the head 'Income from house property' subject to deduction u/s.24.
Posted by
B.CHACKRAPANI WARRIER on
Jan 25, 2020
Answer ID :
80375
If you are doing it frequently or is constantly repetitive in nature you may offer the income under s.28 with all expenses and depreciation etc permitted while computing profits from business.
Posted by
SIVADAS CHETTOOR on
Jan 29, 2020
Answer ID :
80397
It depends upon number of houses given on rent.. If rental income is from two or less than two houses, it will be taxable under income from house property and benefits of deduction of municipal tax and standard deduction will be available. But if more than two houses are given on rent, such rental income will be taxable as business income.
Posted by
CA. chunauti dholakia on
Jan 30, 2020