if A and B are brothers and have inhherited a porperty form their father.and later on they made a complex on the said property.
on ground floor they made shops and sold them.
on first floor they rented the propety to a bank for Rs. 600000 monthly rent i.e 720000 anuualy.
on second floor they started a lodge /hotel with 10 rooms.
for income tax they showed half portions equally from the income form the said properrty as they are the coparceners of the property.
my question is that are they liable to get themslves registered in service tax for renting a floor to a bank ?
also if they want vountarily registered under service tax,then are they laible to collect service tax even thoug their rent is less than Rs.10,00,000?
and if their is no partnerrship deed between them of the building then in which name and status they could gett registered the complex?