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
This discussion clarifies whether income from renting out an entire lodge and restaurant, including amenities, can be declared under the presumptive taxation scheme of Section 44AD. It confirms that such income can be opted for under 44AD, provided it's treated as business income. The conversation also touches upon TDS deduction on rent, specifically mentioning Section 194-I, and advises on correctly classifying this income within the TDS schedule as 'income from business & profession'.

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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