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Rent recieved from whole of lodge and restaurant 44 AD applicability
if full building with all amenities for lodging and restaurant purposes given on rentals can the income be declared under presumptive basis under section 44ad
Replies (13)
Quick Summary
Yes you can opt u/s 44AD
Thank you madam
May I know under which section TDS is deducted on the rent?
194IA
Welcome Dear...
First what is the condition?
TDS sec. 194I-A.......... What a Joke???
194i(a)
Ok. Means at 10% rate.
Whether there is any Rent agreement or any business conductance agreement between the parties?
Yes there is an agreement that states it's. composite rent inclusive of furniture fixture appliances etc
" COMPOSITE RENT ............"
Then how will you justify the eligibility of sec. 44AD of the act, when the TDS is deducted u/s. 194(ia)?
Why sec 44Ad is considered here?
Assessee main business is of renting hotel rooms , so Same is considered under business . The only thing you have to keep in mind in TDS schedule select head income from B&P against TDS income.
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