Income as per 26as
This query is : Resolved
15 July 2015
Dear Experts I have received Rs.Rent(1,40,000)+ST (17,304)-TDS(15,730) = Net Rent (1,41,574=00)per month. My query is that As per 26AS my income is Rent + Service Tax I have already remitted ST To department While filing my IT Return Shall I consider only Rent portion or both please advise me in this regard. Thanks in advance
15 July 2015
First of all, TDS will b deducted exclusive of ST, i.e, on 140K, in ur case. So u must ask ur client regarding that. And regarding income 140k is ur Rental income, so u must show that amount in ur IT Return.
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15 July 2015
Please update the rent income in your ITR
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15 July 2015
Only rent portion i.e Rs. 1,40,000 is to be considered in income.Service tax is your liability not an income.
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