Regarding Rent Income

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This discussion clarifies tax liabilities on commercial rent income. If rent is your sole income and below £20 lakh (approx.), neither GST nor income tax may apply. However, if you are a registered manufacturer, GST is applicable on commercial rental income regardless of the amount, and income tax will also be due.

JIGNESH

JIGNESH (Querist)
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04 December 2020 Sir, I has been received rent income (commercial) 1,80,000/- in year. Then any tax liability in this income ?

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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04 December 2020 If this is the only income no GST or income tax applicable.

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JIGNESH

JIGNESH (Querist)
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17 January 2021 Sir, in this I am also manufacture, than any condition or any tax liability on rent income Rs. 1,80,000/-

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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17 January 2021 If you are registered under GST then GST applicable on such commercial rental income. Income tax also applicable.

JIGNESH

JIGNESH (Querist)
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20 January 2021 Sir, some confusion in this matter.
https://economictimes.indiatimes.com/news/economy/policy/rental-income-beyond-rs-20-lakh-to-attract-gst-says-hasmukh-adhia/articleshow/59539708.cms?from=mdr

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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21 January 2021 You are a manufacturer already paying GST for you the limit of 20 lacs not applicable.

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