Rent on commercial purpose

As per the Goods and Services Tax GST Act, if an individual rents out a property to a business entity for commercial purposes, the landlord is required to register for GST if their annual rental income exceeds the threshold limit of Rs. 20 Lakhs.

As per Income Tax, you should declare your Income as Income from business and professional. Not under income from House Property. 

As you are unregistered person in GST, raise Invoice without GST. Just follow the invoice format. Issue to your tenant. 

As a registered person, Tenant(he) makes payment against that invoice. Then, you can give receipt against his payment for Income Tax purposes.

Tax audit limit under 44AB, 2cr. 

Hi,

I understand that renting a space for 45,000 VND per month is important. Since the landlord is not a tax-registered person, you will not have to pay GST. However, you will need to deduct 10% TDS if the total rent exceeds 2,40,000 VND in a year, which is 4,500 VND per month. Don’t forget to keep the receipts and submit a copy of the TDS deduction certificate to the landlord! Good luck with your business! tomb of the mask