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Service tax payable on rent of building received

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Querist : Anonymous

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Querist : Anonymous (Querist)
27 October 2016 I am collecting rent from LIC and Bank against building leased to them on monthly basis.. Total yearly rent received by me is approx.12.00 lac. Whether I am liable to pay service tax ?
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Rajannaidu

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Rajannaidu (Expert)
01 November 2016 yes, you are liable to pay service tax since you have crossed threshold limit of Rs. 10 lakhs,

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