basic exemption limit
This query is : Resolved
08 March 2011
A COMPANY IS PAYING SERVICE TAX UNDER SECTION 68(2) AS SERVICE RECIPIENT UNDER CATEGORY "TRANSPORT OF GOODS BY ROAD". CURRENTLY IT IS NOT PROVIDING ANY TAXABLE SERVICE.
NOW IT IS ABOUT TO START PROVIDING TAXABLE SERVICE OF "RENTING COMMERCIAL COMPLEX".
GROSS RENT RECEIPT IS LIKELY TO BE LESS THAN Rs.10 LACS.
WHETHER BASIC EXEMPTION OF Rs.10 LACS SHALL BE AVAILABLE TO THE COMPANY ?
NOW IT IS ABOUT TO START PROVIDING TAXABLE SERVICE OF "RENTING COMMERCIAL COMPLEX".
GROSS RENT RECEIPT IS LIKELY TO BE LESS THAN Rs.10 LACS.
WHETHER BASIC EXEMPTION OF Rs.10 LACS SHALL BE AVAILABLE TO THE COMPANY ?
08 March 2011
Threshold exemption up to Rs.10/- lacs can be availed for 'renting of immovable property service'.
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