Dear Sir,
i am running a pre-primary school in Bangalore. i am paying rent of rs.25,000 per month.
please let me know, is gst & tds apply on this rent.
and also let me know how to calculate gst on that.
Dear Sir,
i am running a pre-primary school in Bangalore. i am paying rent of rs.25,000 per month.
please let me know, is gst & tds apply on this rent.
and also let me know how to calculate gst on that.
TDS IS APPLICABLE IF THE ANNUAL RENT IS ABOVE RS. 240000/- AT THE RATE OF 10%.
GST IS EXEMPTED FOR SCHOOLS.
Thank's for the information sir, now my rent become 3,00,000/- for the year. do i need deduct tds.
if yes, please explain the calculation.
IF YOUR RENT IS 25000 PER MONTH MEANS, YOU SHOULD PAY HOUSE OWNER 22500 AND TDS 2500.
QUARTERLY FILE A TDS RETURN AND ISSUE FORM 16A TO THE HOUSE OWNER.
FOR REMITTING TDS, YOU SHOULD HAVE TAN NUMBER.
REGARDS
PREM CA
9884343669
Thank you so much for the valuable information sir.
Sir, If i dont deduct the tds on rent, do i have to pay penalty for that.
expense will be disallowed and the amount will be added to the income.
Naveen Fintech Pvt Ltd
Kolkata
CA Inter
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