Rent from property

This query is : Resolved

SANJAY KUMAR AGARWAL (Querist)
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10 October 2012 Is service tax applicale on rent received from any property.If yes

1. Is it on Both Residential / commercial property

2. Is there any basic exemption limit

3. who is liable to collect the service tax. Rent Payer or receiver

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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10 October 2012 1. Rent on property used for residential purpose is out of the purview of service tax.

2. Threshold limit of Rs. 10/lakhs can be availed vide notification 8/2008 ST dated 1/3/2008.

3. Land lord has to collect from tenant @ 12.36% on the rent as reduced by the annual building tax paid.

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