I'm a contractor.. where I own a property.
In which Mahindra types vehicles companies store their vehicles. We haven't done any agreement regarding rent.
We have a business like.. 70:30 ratio.
In which 70% of Income I will receive and rest of the company.
in 70% I manage rent n care taking n labour n all.
Now company deducted TDS as in 194Ib.Now my income crosses the basic limit and I'm liable for tax.
When I haven't given any agreement to company thn why they will deduct TDS on rent.
If they want then they can deduct it in 194 C.
IInd Question
let's agree that's a rental income then how I will save my tax of 320K. Even my GST turnover is also near about 6L.
CAclubindia
