letting out of plant & machinery
This query is : Resolved
24 January 2008
proprietorship concern lets out plant & machinery of worth Rs. 20 Lacs to a company, what is the provisions of service tax?
24 January 2008
AS REGARDS LETTING OF AN IMMOVABLE PROPERTY ,THE PROVISIONS OF SERVICE TAX ARE AS FOLLOWS.
[(90a) “renting of immovable property” includes renting, letting, leasing, licensing or other
similar arrangements of immovable property for use in the course or furtherance of
business or commerce but does not include —
(i) renting of immovable property by a religious body or to a religious body; or
(ii) renting of immovable property to an educational body, imparting skill or knowledge or lessons on any subject or field, other than a commercial training or coaching centre;
Explanation.—For the purposes of this clause, “for use in the course or furtherance of
business or commerce” includes use of immovable property as factories, office buildings,
SOURCE:WWW.SERVICE TAX.GOV.IN
BUT IF WE PROVE PLANT AND MACHINERY IS MOVABLE AND NOT EMBEDDED TO THE EARTH, THE PROVISION DOES NOT APPLY.
R.V.RAO
AS REGARDS LETTING OF AN IMMOVABLE PROPERTY ,THE PROVISIONS OF SERVICE TAX ARE AS FOLLOWS.
[(90a) “renting of immovable property” includes renting, letting, leasing, licensing or other
similar arrangements of immovable property for use in the course or furtherance of
business or commerce but does not include —
(i) renting of immovable property by a religious body or to a religious body; or
(ii) renting of immovable property to an educational body, imparting skill or knowledge or lessons on any subject or field, other than a commercial training or coaching centre;
Explanation.—For the purposes of this clause, “for use in the course or furtherance of
business or commerce” includes use of immovable property as factories, office buildings,
SOURCE:WWW.SERVICE TAX.GOV.IN
BUT IF WE PROVE PLANT AND MACHINERY IS MOVABLE AND NOT EMBEDDED TO THE EARTH, THE PROVISION DOES NOT APPLY.
R.V.RAO
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
- About TDS & Income Tax
- Scrutiny and reopening of past returns
- Tax on Deemed Capital Gain
- Exiting partner in partnership firm in gst portal
- Type of Capital Gain
- Regarding ITR filing with more value than showing in AIS/TIS
- F & O PROFIT REPORTING FOR AY 2026-27
- Booth for sales promotion
- VALUATION OF PRIVATE LIMITED COMPANY SHARES
- Rental income of jointly held property
- NRI INSURANCE ADVISOR
- TDS on Rent received on redevelopment of building
- Indian IT Portal issue in computing tax as per UK-India DTAA
- Capital Gains on sale of residential flat
- Upload Level ValidationITR3Category of Defect B/D
- PF Taxable Income
- Clarification on Tax Audit Applicability and Reporting of F&O Transactions in ITR-3
- Interest credited in FY2025-2026 & TDS therein by EPFO does not reflect in AIS or Form 26AS
- 44ad eligble money lending interest
- Taxation in the hands of Landowner under JDA
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
