TaxTMI 
TaxTMI 
TaxTMI 
Rent Income
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....ent Income<br> Query (Issue) Started By: - Dharmender Batra Dated:- 8-9-2010 Last Reply Date:- 9-9-2010 Income Tax<br>Got 1 Reply<br>Income Tax<br>The agreement was earlier that the lessee shall pay r....
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....ent plus service tax. Service tax has been deposited by landlord. Now the lessee says that he will pay only rent and the service tax shall be borne by the landlord. For the purpose of rent income, the....
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.... rent income will be rent received by landlord minus the service tax deposited by him or the gross rent received. Reply By Surender Gupta: The Reply: As I understand, the issue is more related to TDS ....
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....under section 194I of the Income Tax read with CIRCULAR NO 4/2008, Dated: April 28, 2008. For the purpose, the tenant is required to deduct TDS on the whole amount paid to landlord if he is making pay....
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....ment without service tax or service tax component is known to him. On the other side, where the rent is inclusive of service tax as per the agreement, it is advisable that landlord should raise a bill....
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.... of rent after calculating rent on reverse charge method and showing service tax separately to enable the tenant to deduct TDS on total rent minus service tax. As long as the issue is related to payme....
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....nt of serivce tax, service tax is payable as - gross amount multiply by 10.3 divided by 110.3 method<br> Discussion Forum - Knowledge Sharing ....