MR A UNDER REG GST ACT. He pays rent rs.240,000/- per year and tax deducted at the rate of 10%.
1.M y query is TDS are declared in GST firm EVERY MONTH?
2 Replies
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(177713 Points)
Replied 09 January 2019
The TDS is deducted u/s. 194I of IT act, and the same is deducted from rent paid.
For GST purpose full amount of rent is taxable.
v k s supraja
(intermediate)
(216 Points)
Replied 10 January 2019
sir, TDS on income tax is different from TDS on GST.
Here in the present case TDS is deducted under 194(i)(b) @ 10% and the same can be claimed whike filing income tax return.
Mr A should file GST returns by showing the income from providing rental service.
Whereas TDS on GST provisions are applicable to (i.e., only following mentioned persins are liable to deduct TDS on GST covered services and the same can be claimed as ITC while paying GST)
Who Is Liable To Deduct TDS – Section 51(1)
1. Central or State Govt Departments or Establishments
2. Local authority
3. Governmental agencies
4. Entities where 51% Equity or control owned by Govt.
5. Registered Societies of Central or State Govt and Local Authority
6. Public sector undertakings
Here in the present case TDS is deducted under 194(i)(b) @ 10% and the same can be claimed whike filing income tax return.
Mr A should file GST returns by showing the income from providing rental service.
Whereas TDS on GST provisions are applicable to (i.e., only following mentioned persins are liable to deduct TDS on GST covered services and the same can be claimed as ITC while paying GST)
Who Is Liable To Deduct TDS – Section 51(1)
1. Central or State Govt Departments or Establishments
2. Local authority
3. Governmental agencies
4. Entities where 51% Equity or control owned by Govt.
5. Registered Societies of Central or State Govt and Local Authority
6. Public sector undertakings
Recent Topics
- Urgent doubt on GST
- Profit or Loss on Sale of Assets Accounting treatm
- Clarification on RCM on Rent Payment for QRMP Deal
- Reclaimed itc in gstr9
- Gamification in Accounting Software: Boosting Enga
- I want to knw Hsn code and gst rate of resin produ
- Schedule FA clarification
- Income tax on freelance income from crypto
- ITC temporary reversal and reclaim
- Query on Transactions
Related Threads
CAclubindia
