Basic limit

This query is : Resolved

Chandan (Querist)
Follow

04 December 2014 If in F.y.2010-11 I Recd rent Rs.15.00 lacs and pay ser tax and duly collected from tenant.

In F.Y.2011-12 Rent Rs. NIL
In F.y. 2012-13 Rent Rs 3.00 lacs
So in F.Y. 2012-13 can i claim basic limit of Rs 10.00 lacs

Amol S Joglekar

Amol S Joglekar (Expert)
Follow

04 December 2014 No, now that you are a registered service tax person...Basic exemption limit has been claimed once, at the beginning.
You should have cancelled your REGISTRATION in FY 2011-12

Chandan

Chandan (Querist)
Follow

04 December 2014 Sir

Not understand , if I cancel my registration whereas I have again recd rent in F,.Y. 2012-13 should I Tax collect from customers and pay it or
Basic limit will be available

Chandan

Chandan (Querist)
Follow

04 December 2014 Sir

Not understand , if I cancel my registration whereas I have again recd rent in F,.Y. 2012-13 should I Tax collect from customers and pay it or
Basic limit will be available

Amol S Joglekar

Amol S Joglekar (Expert)
Follow

12 December 2014 Basic LIMIT was available ONLY once. (in the FIRST time when you exceeded the limit)
Now basic limit is NOT available to you.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Join the CA Students WhatsApp Community for ICAI Updates, Trending Courses & Notes!

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

Aniruddha Mody

Rampal Saini

Jitin Aditya Kapur

Amirthalingam

George Innocent

Subscribe Now

Basic limit

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

Senior Executive

Manager- Finance and Compliance

GST CONSULTANT

GST CONSULTANCY

Accountant

CA Final

Article Assistant

Associate CA