Generator given to bank
This query is : Resolved
11 November 2011
Sir
MY QUERY IS THAT MY FRIEND HAS GIVEN 4 GENERATORS ON RENT TO A NATIO0NALISED BANK AND IS RECEIVING AROUND RS 60,000 AS RENT AND RS 40,000 AS RUNNING CHARGES PER MONTH. WILL SERVICE TAX BE APPLICABLE. TDS IS HOWEVER BEING DEDUCTED BY THE BANK.
MY QUERY IS THAT MY FRIEND HAS GIVEN 4 GENERATORS ON RENT TO A NATIO0NALISED BANK AND IS RECEIVING AROUND RS 60,000 AS RENT AND RS 40,000 AS RUNNING CHARGES PER MONTH. WILL SERVICE TAX BE APPLICABLE. TDS IS HOWEVER BEING DEDUCTED BY THE BANK.
11 November 2011
Since running charges is levied from bank, it can be presumed that control over the assets still rest with the lessor. If viewed so, the activity comes under'supply of tangible goods service' on which service tax attracts.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- STCG....................................................
- Section 54F - Exemption on LTCG in 2026 for HP purchased in 2023
- Treatment of Pension ?annuity returns on PMVY
- AMOUNT RECEIVED UNDER COMPULOSRY ACQUISITION OF AGRICULTURAL LAND
- TAN for Partnership
- CA IPCC Registeration in 2012, Is my registration Active or Expired
- TDS related Query_Liquidated Damages
- Long Term Service award taxability in hands of company
- AY 26-27 ITR-4 FILING U/S 44-ADA
- Plot of land. Cost of Acquisition
- Soyabean hsn code and gst rate
- NON- SUBMISSION OF LLP FORM 3
- Gst invoice numbering and delivery challan numbering
- Standard Deduction claim for EPFO Pension and ICICI Prudential Life Annuity
- Small dealers gst returns filing
- Sales amount in Gstr1
- CG after sale of flat
- E Commerce GSTR1 & 3B how to file
- Nomination of Bank for refund in itr 2
- GST Cancellation without jurisdiction
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
