Income from house property
This query is : Resolved
14 February 2014
Sir, if assessee receives rent plus service tax on commercial house property then under computation "income from house property" ST received will be included in "rent received" or not?.. My 2nd question is if during fy 10-11 rent received rs. 840000 & during fy 11-12 received 1018000 then what is the service tax liability ?? Plz help ..
14 February 2014
Hi
ST received not to be considered as rent received.
Thx
ST received not to be considered as rent received.
Thx
AVTAR SINGH
(Expert)
14 February 2014
No service tax liability in FY 2010-11. In FY 2011-12 service tax would be payable on Rs.18000 after deduction of threshold limit of Rs.10 Lakhs.
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