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TDS for paintings
TDS rate for buy/sell ART painting like antique, modern contemporary ART
Replies (3)
Quick Summary
As per my knowledge such thing is not covered under TDS unless until buy from NRI... as NRI payment covers u/s 195..
But since GST of 12% is there, how to treat income for taxation
1.There is no specific TDS sec for making payment for Art painting
2. As GST will be taxable @ 12% and you are engaged in business of purchase and sale of painting and art this income will be calculate under PGBP head means your business income as per income tax
2. As GST will be taxable @ 12% and you are engaged in business of purchase and sale of painting and art this income will be calculate under PGBP head means your business income as per income tax
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