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Tax rate for rental income


Sundaraiah
(@sundaraiah)
Trusted Member
Joined: 3 years ago
Posts: 66
Topic starter  

A gst registered composite dealer trading for sale of  medicines.

1. Sale turnover April to December,2019  Rs.22,00,000/-tax paid Rs.22000/-  composite tax paid.

2.same person income from rent for shop April to December,2019 Rs.36000/-

Rental income gst  tax applicable and which rate of tax applicable.


Quote
Komal barapatre
(@komal-barapatre)
Active Member
Joined: 3 years ago
Posts: 9
 

18% gst applicable on rental income.


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Rkkumawat777
(@rkkumawat777)
Eminent Member
Joined: 3 years ago
Posts: 26
 

Dear professional
Please explain rent definition as per income tax law
My case is I pay rent for commercial building RS. 35000 and maintenance of commercial building RS . 25000 against separate invoice to same person. In this case 194 ib is applicable or not?


ReplyQuote
Komal barapatre
(@komal-barapatre)
Active Member
Joined: 3 years ago
Posts: 9
 

U/s 194ib the tds deduction limit is 50,000 per month @ 5% . And your rent amount is less than 50,000.

Hence no deduction of Tds .


 


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Rkkumawat777
(@rkkumawat777)
Eminent Member
Joined: 3 years ago
Posts: 26
 

Komal ji

I think rent includes maintenance charges because rent and maintenance charges paid every month to same person.

Thank you


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Rkkumawat777
(@rkkumawat777)
Eminent Member
Joined: 3 years ago
Posts: 26
 
Posted by: Komal barapatre

18% gst applicable on rental income.

I think In this case tax payer is only 1% gst pay on RS 36000. Because it is a registered under composition.

Thank you 😊


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Komal barapatre
(@komal-barapatre)
Active Member
Joined: 3 years ago
Posts: 9
 

But invoice are raised separately. I think you issue 2 invoices one for rent and another for maintenance,, according to you said above.

Thank you.


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Rkkumawat777
(@rkkumawat777)
Eminent Member
Joined: 3 years ago
Posts: 26
 

Yes 

But both invoice are issue by same person rent of building and maintenance charges of building.


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