I am a composition dealer. Also receiving rent from commercial property but it is less than 10% of aggregate turnover.
I pay tax on goods @ 1%. So do I also have to pay tax on rent income received by me ?
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Tax liability of composition person receiving rent income
Replies (2)
Yes... You must pay GST Tax for the Rental income.
Yes need to pay 1% on Gross rent .
(Cannot collect from tenant)
(Cannot collect from tenant)
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