Rental income and interest income and agrilculture income taxable or exempted for composition dealer
This query is : Resolved
Kollipara Sundaraiah
(Querist)
27 March 2023
sir,
A Registered composition dealer income detailes mentioned below.
1.Sale of medicines for pharmacy busieness rs:80 lacs turnover yearly.
2.sec 194j Fees and tecknicial servicies income rs:30 lacs yealry (health services)
3.Rental income from shops rs:3 lacs
4.Interest income from partnership firm rs:3 lacs
5.Agrilculture income rs:2 lacs
Doubts:
1.Dealer opt composition scheme eligible or not
2.sec 194 j income taxable or exempted
3.rental income and interest income taxable or exempted
4.Agrilculture income taxable or exempted.
A Registered composition dealer income detailes mentioned below.
1.Sale of medicines for pharmacy busieness rs:80 lacs turnover yearly.
2.sec 194j Fees and tecknicial servicies income rs:30 lacs yealry (health services)
3.Rental income from shops rs:3 lacs
4.Interest income from partnership firm rs:3 lacs
5.Agrilculture income rs:2 lacs
Doubts:
1.Dealer opt composition scheme eligible or not
2.sec 194 j income taxable or exempted
3.rental income and interest income taxable or exempted
4.Agrilculture income taxable or exempted.
Dhirajlal Rambhia
(Expert)
27 March 2023
1. Not eligible, as supply of both goods & services together above specific limits..
2. If health services, exempted under GST.
3. If Rental income from non-residential property, its taxable.
4. Exempted.
2. If health services, exempted under GST.
3. If Rental income from non-residential property, its taxable.
4. Exempted.
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