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Rental charges

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(Querist)
08 August 2007 My institute proposes to let it premises for use by World Military organisation for a period of three months at chrages of Rs.15 lakhs lumpsum. What is the servie tax and income tax impliation.
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Shyam Lal Naik

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Shyam Lal Naik (Expert)
08 August 2007 No Service Tax as the purpose is not for business or commercial use.

TDS at applicable rate will have to be deducted.
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CA Mani

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CA Mani (Expert)
08 August 2007 TDS to be deducted as per 194I.

Income will be taxed under the head Income from house Property.



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CA. Hitesh Aggarwal

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CA. Hitesh Aggarwal (Expert)
08 August 2007 Tds will be deducted at the rate precribed u/s 194I.

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