Warehouse rental income taxation
This query is : Resolved
10 August 2012
My client given warehouse on rent @ Rs. 25000/- p.m.. What is the tax liablity as per income tax act.
10 August 2012
hi warehouse rent attracts TDS u/s 194i ,however one must deduct TDS excluding service tax @10 percent
10 August 2012
Rental income is taxable under the head Income from Other Sources.
10 August 2012
hi,
the tax liability in hands of client-
taxable under other sources at normal slab rates
2. in the hands of payer- he must deduct TDS and remit the amount of rent
the tax liability in hands of client-
taxable under other sources at normal slab rates
2. in the hands of payer- he must deduct TDS and remit the amount of rent
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