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GST on rental income
First explain ur turnover details... If rental receipts is more than Rs. 20 lakh then he is required to take gst no
Please read the query carefully, no where is mentioned that income of partner is more than rs. 20 lakhs @ Divakar
Yes that true, you asking the the turnover of partner in firm.....
question is so complicated
question is so complicated
Firm and partners are two different person... Firm has its own pan no and partner has its own.... No relevance of this question that partner is required to take gst no... As he is just earning 3 lakh rental income and residential property is not covered in gst
For turnover it is mentioned that t/o from all businesses, my question was whether partnership firm's business is covered or not?
I personally feel, you query of ICHITA LOHIYA IS,
Partner ship firm giving RENTAL to partner that is 20000*12 = 240000...
and partner ship firm Register under GST HAVING TURNOVER is above 2000000.
Is it right Miss ICHITA LOHIYA.....
Partner ship firm giving RENTAL to partner that is 20000*12 = 240000...
and partner ship firm Register under GST HAVING TURNOVER is above 2000000.
Is it right Miss ICHITA LOHIYA.....
No, please don't insert your assumptions here @ Aashish Sachdeva
But total turnover is considerd on pan wise... And firm and partners are distinct person... Why u mix it... No need to required to take gst.... Gst registration is required pan wise
ok, thanks
I am not inserting because you complicated the situation.....
Mr. Divakar asking right thing...
Mr. Divakar asking right thing...
Now, I got the answer.
rental income from commercial property (if not being used for residence) is taxable & landlord to take registration if its income exceeds 20lac in year.
rental income from residence property used for residence is exmpted
rental income from residence property used for residence is exmpted
Yup... Hope now u hv no doubt... Gst registration and turnover is on pan wise
ok...ichita ...calm down...
shant. shant...
people are just asking right questions...
ha ha
shant. shant...
people are just asking right questions...
ha ha
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