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Rental income of composition dealer

29 November 2020

if a composite dealer having business and rental income both then how much percentage he has to pay tax in get return
how the amount has to be shown in get portal ??

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8 Replies

Shivam RC (Student) (23683 Points)
Replied 29 November 2020

The rental income is from Commercial Property or Residential Property ???

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Sejal Golecha (49 Points)
Replied 29 November 2020

If commercial?

Bhavana Pretty (33 Points)
Replied 29 November 2020

It's commercial property sir how to show it ??

Shivam RC (Student) (23683 Points)
Replied 29 November 2020

The rental income received from commercial property along with the business income needs to be reported in Table number 3.1 "Outward Supplies ( including exempt supplies )" column of FORM CMP-08 Statement-cum-Challan and the GST Rate applicable on the rental income would be 1% ( assuming that you are a Trader ).

Note : Composition Scheme Dealers are allowed to provide Supply of Services, which shall not exceed 10% of their Turnover from goods or Rs. 5,00,000, whichever is "HIGHER."