if any payment as rent is made to unregistered person for shop used for business purposes then what's the treatment of it in Gst as well as income tax.
As land Lord is unregistered there will not be any ITC eligible under GsT and under income tax it would be an business expense to be chatged to P/L account.
When you rent out a residential property for residential purpose, it is exempt from GST. Any other type of lease or renting out of immovable property for business would attract GST at 18 %, as it would be treated as a supply of service. tds applicable if rent excess 240000 per annum.
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