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.
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