Letting of house property
This query is : Resolved
15 March 2013
Sir,
If an Individual let out his house property for furtherance of business n commerce to a tenant. considering rent as house property income whether the owner is liable to charge service tax on the same income?
If an Individual let out his house property for furtherance of business n commerce to a tenant. considering rent as house property income whether the owner is liable to charge service tax on the same income?
15 March 2013
Yes, the same shall be taxable.
Assuming that the individual has let out his property from FY 12-13 for the first time & he is not providing any other service, then Service tax shall be levied only on the amount in excess of Rs. 10 Lakhs during the current FY.
Even if the individual was providing teh service last year(the above mentioned threshold limit shall continue to apply, provided his turnover, had not exceeded Rs. 10 Lakhs during last FY)
Assuming that the individual has let out his property from FY 12-13 for the first time & he is not providing any other service, then Service tax shall be levied only on the amount in excess of Rs. 10 Lakhs during the current FY.
Even if the individual was providing teh service last year(the above mentioned threshold limit shall continue to apply, provided his turnover, had not exceeded Rs. 10 Lakhs during last FY)
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
- CG Tax On residential property
- Post Office RD Interest
- Applicable TDS for Purchase of Flat from NRI
- Building and other construction workers welfare cess act 1996
- Eway bill for machinery reparing
- Gift of mutual fund units to daughter
- Bank Accounts in Balance Sheet for ITR 3
- ITR 3 FILING OF AN INDIVIDUAL (PARTNER IN A PARTNERSHIP fIRM)
- Form 10BD Filling
- NRI ITR2 account in 2025-26 ,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,.
- Reporting of STCG on Property in ITR
- Error while filling exam form November 2026
- Delisted shares sold in off market/ Rebate u/s87A
- In Exports Sales HSN details where to fill
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- Difference in tax comparison report
- Gst invoice numbering and delivery challan numbering
- Sales amount in Gstr1
- E Commerce GSTR1 & 3B how to file
- 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
