Regarding Rent Income
This query is : Resolved
Quick Summary
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
(Expert)
04 December 2020
If this is the only income no GST or income tax applicable.
Message likes :
1 times
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
(Expert)
17 January 2021
If you are registered under GST then GST applicable on such commercial rental income. Income tax also applicable.
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
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
(Expert)
21 January 2021
You are a manufacturer already paying GST for you the limit of 20 lacs not applicable.
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