Rental Income more than Rs.10 lakh p.a
This query is : Resolved
05 April 2011
If an individual has provided her House property on Rent for Commercial purpose and is earning more than Rs. 10Lakh as rental Income,then what taxes(direct & Indirect) she is liable to pay apart from Income Tax??
18 April 2011
There being Rental Income, Direct tax ie Income TAx is liable to be paid on house property income. and TDS deducted by tenant should be adjusted.
And as gross receipts exceeded 10 lacs during the year, person have to obtain Service tax no. and pay service tax within time along with service tax return.
And as gross receipts exceeded 10 lacs during the year, person have to obtain Service tax no. and pay service tax within time along with service tax return.
Message likes :
1 times
19 April 2011
She is required to get registered with service tax authorities and then she will be required to pay service tax thereon. She can collect service tax from her tenant as well
19 April 2011
How can she claim it from her tenants??
28 April 2011
Rental Income, Direct tax ie Income Tax is liable to be paid on house property income. and TDS deducted by tenant should be adjusted.
And as gross receipts exceeded 10 lacs during the year, person have to obtain Service tax no. and pay service tax within time along with service tax return.
And as gross receipts exceeded 10 lacs during the year, person have to obtain Service tax no. and pay service tax within time along with service tax return.
Message likes :
1 times
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- About TDS & Income Tax
- PPF interest-As Exempt Income disclosure
- Scrutiny and reopening of past returns
- Section 194JA & JB Income which ITR Form to use
- Under construction property in ITR
- Pass word to open justification report for Q1 for FY 2026-27
- Building tax payment deduction in rental Income
- Upload Level ValidationITR3Category of Defect B/D
- Not able to file ITR
- Booth for sales promotion
- Rental income of jointly held property
- Regarding ITR filing with more value than showing in AIS/TIS
- PF Taxable Income
- Clarification on Tax Audit Applicability and Reporting of F&O Transactions in ITR-3
- Interest credited in FY2025-2026 & TDS therein by EPFO does not reflect in AIS or Form 26AS
- 44ad eligble money lending interest
- Delisted shares sold in off market/ Rebate u/s87A
- In Exports Sales HSN details where to fill
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- Difference in tax comparison report
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
