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Tax Benefits of Buying a Commercial Property in 2022

Gaining tax benefits is one of the most significant reasons many people invest in commercial properties. But what tax benefits would you get after investing in a commercial property in Pune or elsewhere in India? Let’s look at this blog.

Loan Interest Deduction

Loan Interest Rate Deduction 

While buying a commercial space, you may avail a commercial office loan and get your loan interest wholly deducted. The fees associated with obtaining the loan is also entirely deductible. You can claim this from the year during which you take possession after the structure’s construction is complete.

You may claim five equal installments for any interest you’ve paid over a particular year before accepting possession of your commercial property.

Standard Deduction

Again, when you borrow a loan to purchase a commercial space in Pune, you can claim a deduction at a flat rate of 30 percent of your taxable revenue. This taxable income could be the one invested in equipment and technology and material involved in repairing and renovating the commercial property. It can help you save on tax.

Commercial Property Used for Business

Let’s now overview the tax implications for commercial properties in Pune used for business purposes. While using a commercial property for business, you cannot claim any deductions concerning notional rental income. But you can claim depreciation and interest you pay on your loan as a tax deduction.

As a business owner, you can borrow a business loan for your shop and completely claim the maintenance costs and repairs.

Nevertheless, it must be remembered that tax implications may change from time to time. Hence, you must stay updated about changes to tax payments to ensure compliance. Hiring a real estate lawyer can help you in this regard.

Want to Invest in Commercial Property in Pune? Consider Kohinoor World Towers!

KWT street view 

Kohinoor World Towers (KWT) is a commercial hub shaping on the soil of Pimpri Chinchwad near Pune. KWT is a massive business center with various multi-sized spacious offices, stellar amenities, and superb connectivity.

Besides, it has a strategically advantageous location between Pimpri and Chinchwad on the arterial old Mumbai-Pune highway at the convergence of PCMC’s industrial and commercial hub.

If you’ve been looking to buy a commercial property in Pune, consider KWT.

Call +91 20 6764 1818 to know more about KWT or connect with the sales team.

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