SIR, A PERSON HAVING GST AND DOING ONLY EXEMPTED SALES FOR 3600000/-
HE NOW RENT A COMERCIAL SHOP FOR 120000/- PER MONTH.
IS HE NEED TO PAY GST & INCOMETAX?
INCOMETAX TDS 10% RIGHT?
MURALIDOSS (INCOME TAX PRACTITIONER) (1302 Points)
18 December 2020SIR, A PERSON HAVING GST AND DOING ONLY EXEMPTED SALES FOR 3600000/-
HE NOW RENT A COMERCIAL SHOP FOR 120000/- PER MONTH.
IS HE NEED TO PAY GST & INCOMETAX?
INCOMETAX TDS 10% RIGHT?
sudip sharma
(article)
(734 Points)
Replied 27 December 2020
Shivam RC
(Student)
(23683 Points)
Replied 27 December 2020
MURALIDOSS
(INCOME TAX PRACTITIONER)
(1302 Points)
Replied 28 December 2020
Sorry sir, He rent a commercial shop to others. That is Rent income per month for him 120000/- i.e 120000x12 = 1440000/- per year receipt.
Also he got gst and doing Exempted ( paddy & non branded rice) turnover last year .
For that 120000/- per month need to deduct tax 10% right sir. and also the tds either deducted and paid by tenant or owner need to pay by himself?
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