residential property used for residence is exempt from GST
2) if residential premises are given for use as office / commercial property then it is not exempt from GST
3) if total rent is less than Rs 20 lakhs in a year not required to collect GST
Rental income
I am registered with GST. I want to rent out my property on long term lease, as total annual rent is less then 20 lacs, so the proposed Lessee don't want to pay GST. Can I raise bill without GST.
Asked 5 years ago in Taxation
First answer received in 10 minutes.
Lawyers are available now to answer your questions.
13 Answers
almost 15 years back, electricity board has drawn overhead high tension line over my land. At that time I had no knowledge about devaluation of land due to overhead high tension line. Now when I want to sale buyers are not ready to give full market value. Can I claim compansation after such a long period?
Asked 5 years ago
Rental income received from residential house is exempt. But if you have given your unit to commercial enterprise, then it is taxable if you are getting more than Rs 20 lakh as rent.
GST shall not be applicable as it is below the threshold limit of 20 lacs.
You can serve a legal notice and can try by way of filing suit though after so much time has been passed it will be really difficult to get the compensation.
If it's within the limitation of gst then you don't require to. If gst is applicable then you can do the same.
Dear Client,
No GST below 20 lacs.
File writ in HC for removal of high tension wire, as constant threat to life and limb.
Can we divide rental income of HUF among members on the basis of unregistered settlement deed without paying income tax in HUF file.
Asked 5 years ago
See the income if taken in account of HUF account then tax on same is paid if taken cash then you can divide.
You must declare rental income in your income tax returns
Unregistered settlement deed will not have legal effect. You need to register the same
If your transaction do not attract the provisions or rules for GST deductions, then you may proceed as suggested.
However, drawing of the power line overhead is objected by the respondents 3 and 4. .... of the land is further entitled to compensation for any diminution in value of land .
If the high tension wires cross the entire 1 = acres of the land of the petitioners, there will be huge depreciation in the value of the land.
f your claim is admitted, the amount of compensation is assessed in terms of the impact the poles/wires have on the value of your property. The evidence of a Chartered Surveyor on valuation will be needed so as to assess the value or your claim. Such evidence can also be used in negotiations.
the rental income may be distributed to all the members of HUF if it is a a HUF property.
Income tax may be applicable accordingly.
Income will submit in HUF account, Only on dissolution of HUF, it can divide acc.to settlement.