I'm a land owner for a 600 sqft shop, I have given it for rent to a person at a monthly rent of 25000,
But now he is telling me like he will give me only 22500 by detucting 10%(2500), it is for my GST pay,
And he also told me that I can withdraw this amount at the end of every year, that means for the 12 month(2500*12 = 30000), Is that True?
My question is:
Can I allow him to do so?
Do I need to register this in my income tax or GST(my annual income is only 300000?
CAclubindia
