rental income

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RAJA P M ("Do the Right Thing...!!!") (128111 Points)
Replied 14 September 2017

All taxable (under IDT) incomes considered as Turn Over....
Otherwise no need...

deepika (student) (42 Points)
Replied 15 September 2017

thank you all for the reply and help

deepika (student) (42 Points)
Replied 15 September 2017

another case single property let out for running hotel business by 10 co owners. meaning 10 individuals combined and constructed the whole hotel premises rented out to one person. each individual raises a bill with respect to there share in the property.
eg: A share is 5%, B share is 20%, C share is 7 %
rent paid by the tenant is 1.2cr p.a
B has to pay get
what about A and C?

RAJA P M ("Do the Right Thing...!!!") (128111 Points)
Replied 15 September 2017

(B has to pay get
what about A and C?)

What is this meaning....?

deepika (student) (42 Points)
Replied 15 September 2017

what should Mr A and Mr C do... do they have to gst?

deepika (student) (42 Points)
Replied 15 September 2017

pay gst

RAJA P M ("Do the Right Thing...!!!") (128111 Points)
Replied 15 September 2017

Originally posted by : deepika
	what should Mr A and Mr C do... do they have to gst?

A and C get income only from the way of the Rental then no need GST. All the persons ll be give receipts to the tenant without GST except B. B give taxable receipt...

deepika (student) (42 Points)
Replied 15 September 2017

thank you sir

RAMESH KUMAR SINGLA (PROFESSIONAL) (1777 Points)
Replied 18 September 2017

I am presuming that your total turnover from supply of rental services is more than Rs. 20 lakhs AND you are a registerred supplier of service, since you are paying some amount of GST to the Govt. There is no distinction in residential property or commercial property when it is a question of charging of GST from the customer unless there is specific exemption in respect of residential properties. I could not find any such exemption. Therefore, in my view, your supply is classifiable under chapter heading 9972 and you are required to pay tax @ 18% to the Govt. You may have to take into consideration your tax liablities as stated before fixing the rent with the customers.