Suppose i take a shop on rent say the rent p.m is 4000..
i pay it to a unregistered person.
do I need to pay under RCM?
if so under which section?
If you ll be booked /paid in a day only the rent amount you don't want pay tax under RCM basis under 5k limit...
If not you can pay the rent and other URD inwards in that day above 5k then RCM applicable... Tax rate 18%
CAclubindia
