Taxation of truck given on rent
This query is : Resolved
27 August 2019
I have 2 trucks. I gives these trucks to different transporter companies for a small period in entire year ie one transport company 1 month another 2 months etc. they give me rent on monthly or quarterly basis. Total rent during the year is approx 2.5 lakh
i am also running a retail shop of iron rods which is registered under gst.
1. where to show this rental income in itr as a business income or as a rent income under income from other sources
2. is there any treatment of this rental income under gst
i am also running a retail shop of iron rods which is registered under gst.
1. where to show this rental income in itr as a business income or as a rent income under income from other sources
2. is there any treatment of this rental income under gst
28 August 2019
1 Show it as business income Trucks opt for 44AE.
2 GST not applicable on rental income of trucks.
2 GST not applicable on rental income of trucks.
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
- TDS 194-T applicability
- GST ITC REVERSE
- Fixe term employment
- Is any professional CA is here please reply
- Consolidated financials
- RCM ISSUE ON RENT AND TRANSPORTATION CHARGES
- Putting a heading on received mail
- Foreign lottery ticket bought online from India: legality, tax and consequences
- TDS on Complimentary "Desi Ghee and Gold Coin" Provided to KBC Contestants
- Section 50-fixed asset-->building ceases to exist
- Withdrawal in cash from partners capital account by partner
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- STATUTORY AUDIT OF A SMALL PRIVATE COMPANY INCORPORATED ON 28.03.2025
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
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
