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Rent Income

Others 276 views 10 replies
If a person is collecting GST by letting his house property ( has a GSTIN NO) the rental income should be shown under PGBP or house property?
Replies (10)
Are You let out Your house to Residential or Commercial...?
Rental income from house property be it residential or commercial , should be shown under the head - income from house property-
If he has let out the property thru lease agreement then he can raise bill since he has a gstin number .
@ Prakhar

 “Renting of residential dwelling (house property) under lease for use as residence” is exempted from the GST tax net.

If the residential dwelling is leased out for commercial purposes then GST is @ 18%
@ kapadia please mention relevant section.
Sabyasachi you should have mentioned instead of asking me.
@ Mr Prakhar Jain.,

Are You let out Your house to Residential or Commercial...?
@ 8prakhar
the main logic behind this is
an assesse cannot claim input tax credit.
the relevant notification is 12/2017.
only for residential purpose its exempted not for office or commercial purpose.
Kapadia I RETERIATE I REQUESTED U TO MENTION THE NOTIFICATION NUMBER.
CORRECT ME ANYONE .
LET IT OUT FOR BUSINESS PURPOSE I MEANT.
PURPOSE IS ESSENTIAL.
@ Mr Prakhar Jain.,

Are You let out Your house to Residential or Commercial...?

1. As per sec 22 Income from the property will be chargeable to tax under the head Income from House property. It does not matter whether the same is for the purpose of residence or commercial. 
2. If you are running a lodge as then such it may be charged to tax under PGBP. But if it consists of one or two flats and it is for the purpose of residence then the same will be taxable under the head Income from House property. 
3. In your case, you have mentioned as collecting GST. GST will be applicable only for renting of commercial property and even in that case, the same will be charged to tax under IHP. 
Please correct me if the above solution has an alternative view. 


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