rent collection

rent is not exempt from income tax
but get deduction u/s 24 @ 30% of rent received...

Exempt from TDS deduction or Tax payment on Rental Income? Scenario will differ on the case.

@ Nahin
when it comes to TDS on rent
tds vl b deducted only if rent is in excess of 180000 during the year
and now even for residential premises TDS vl b deducted provided rent is more than 50K per month..

the scenario vl b same doesn't matter if tds is deducted or not..

calculation of tax on rent vl b same
on rent 30% deduction vl b available
and on balance tax is levied and that tax vl b adjusted with TDS if any...

but the base remains same

@ Bharat you are absolutely right, I am asking question to Mr. Maiya to elaborate whether he is asking Exemption for whole rental income or only for the Provision of 94I for deduction of TDS on rental income. Because he is referring that there are multiple party in Rental collection.

my question is regarding GST

Gst is applicable on rent when your total turnover cross 20 lakhs please note turnover of all business shall be clubbed which is registered with the same Pan.

Gst is leviable on commercial property not on residential property.