08 July 2015
Wanted to know that if I am taking residential property on rent and yearly rent is more then 10 lac.. So do I need to pay service tax? If the same property if I sub lease to college students for residential purpose for one year and I am charging rent less then 1000 per day then do I need to charge service tax from them? Please let me know ... Thanks
08 July 2015
You need to pay service tax on the property taken on rent being used for commercial purpose(running a hostel). If you charge less than 1000 per day per room no service tax charge from them, it is exempted.
CAclubindia
