taxability

Roshni (Student CA Final ) (103 Points)

06 July 2018

if a shop is owned by Mr.R and part of the shop is given on rent then what will be the taxability.

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7 Replies

RAJA P M ("Do the Right Thing...!!!") (127148 Points)
Replied 06 July 2018

Which Taxability you want in GST or Income tax...?

surendrakumar (Article trainee) (54 Points)
Replied 06 July 2018

If the tenant is other than individual and paying rent more than Rs. 15000/- then TDS should be deducted @ 10%.

Roshni (Student CA Final ) (103 Points)
Replied 06 July 2018

from income tax point of view. whether taxable under house property or income from other sources

surendrakumar (Article trainee) (54 Points)
Replied 06 July 2018

It is taxable under the head Income from other sources.

KOUSHAL JAIN (Chartered Accountant) (471 Points)
Replied 06 July 2018

Rent Received of Shop Taxable under Income from House Property.

surendrakumar (Article trainee) (54 Points)
Replied 06 July 2018

property may be used for any purpose other than business or profession ,then only it'll be taxable under House Property Head

RAJA P M ("Do the Right Thing...!!!") (127148 Points)
Replied 06 July 2018

The Rental income will be calculate under IFHP...

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