Limit of service tax in india
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
17 August 2012
sir,
please tell me, service tax on house rent and its limit for the fin. year 2012-13
please tell me, service tax on house rent and its limit for the fin. year 2012-13
Amol S Joglekar
(Expert)
17 August 2012
negative list suggests that renting og residential property shall not attract service tax. Renting of commercial properties falls under the net of service tax. Assessee wise limit is 10 lakh.
RENGARAJ R.K
(Expert)
21 August 2012
Yes, renting of residential property is not taxable. At the same time if any commercial activity is done at the house and in a portion, it will be treated as taxable. For e.g you are letting the house to a lawyer in the ground floor and in the first floor he runs a advocate firm. In such case, the first floor rent is taxable.
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