We are giving construciton equipment on rent to any person without transferring right of possession and effective control of such machinery with in India . The machinery operation and maintainence is with us i.e our operator's do the work as per the requirement of the client.

Please advise the applicability of the VAT on the said transactions across India.


Further can we take the MODVAT credit on equipment purchased and use the said credit against the Service Tax Liability
thanks
ravi bhatnagar

Sir
I have the following query with me.

IF a person has two properties constructed with loan from Bank.

One property is self occupied and the other is letout for others

Can he claim the interest on borrowed capital on both the houses u/s 24.

And the other query is:
Is the deduction of loan repayment, Principal deduction is 20000 for each house or 20000 for all the houses taken together

Please resolve my query
Awaiting expert responses

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