My query is regarding CAMC collected from the tenant by the owner by generating seperate invoice(on such income tds is deducted U/s 194C), whether it can be shown under IFOS by claiming deduction for maintenance expenses incurred or it is to be shown under PGBP ?
In Accounting Information system(AIS) ,The income collected is showing under PGBP automatically (as it is deducted u/s 194C) , can we proceed to file/show in ITR under income from other sources ?
Thanks in advance
Menu
Common area maintainance income- PGBP or IFOS
Replies (1)
TDS should be deducted u/s 194I if CAMC paid directltly to the owner. Pls refer explanation to the section 194 I -
Explanation.—For the purposes of this section,—
(i) "rent" means any payment, by whatever name called, under any lease, sub-lease, tenancy or any other agreement or arrangement for the use of (either separately or together) any,—
(a) land; or
(b) building (including factory building); or
(c) land appurtenant to a building (including factory building); or
(d) machinery; or
(e) plant; or
(f) equipment; or
(g) furniture; or
(h) fittings,
whether or not any or all of the above are owned by the payee;
Recent Topics :
- Practical queries on buy back of shares
- Any faculty recommendations for latest batch recor
- FAI & FAST-DS 2026 query
- Is GST registration mandatory in this case
- Buying a residential flat in Goa: should my wife b
- Income tax filling
- Applicability of RCM in the case of import of serv
- Confusion in gst registration for service category
- Itc claimed from return defaulters
- Gst input credit
Related Topics :
CAclubindia
