How to calculate tax on car rental income

Efiling 2941 views 1 replies

Hi Team,

I have rented new Car to Zoomcar from last 1.3 Years.
and i'm getting monthly Car Rental income for my rented car from Zoomcar.

Zoomcar Team is dedcuting GST around 10.7% & 2% TDS on the total rent the depositing to my account.

Last Month Rent, GST & TDS

Total Rent  21638.29
GST (10.7%)  2318.33
TDS (2%) 386.40

So i want to know how to fill income tax, which ITR to be use and how calculate tax on this income as i'm salaried employee.

 

Thanks,

Avinash

Replies (1)
You can file ITR 3 & show car rental income from PGBP after deducting all expenses.

Calculate tax as per income tax slab


CCI Pro

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