a dealer receive sample/demo vechile from company. the company did not take any declration form neither issued any any invoice. However the company issued a debit note to the dealer.
Now the dealer sold the demo vechile. What will be the tax implication. The dealer did not paid any cst on it.
Hi Amit ...
A person having right in property can only enters into rent agreement... So if son & wife are not the owner or not have any interest or right in property can not entres into agreement.
As per my opinion ---In the given case if father is owner of property, then rent is income of father & if it exceeds 120000 then u have to deduct TDS.
yes, the same is liable to local vat/cst whatever applicable
I m fully agree with ur view too...
Can u pleae let me know if the property is name of both the person than what is the laibility of TDS.
In case of joint ownership, rent share of each joint owner is considered seperatly.
If it exceeds 120000 then liable to TDS.
T R SOOD & CO
New Delhi
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Rahul Dang & Associates-Chartered Accountants
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