rental from commercial building
This query is : Resolved
05 May 2011
sir
rental from commercial building are subject to service tax
is there is any amount deductible from the gross amount for service tax calculation(interest on loan or repairs) etc
rental from commercial building are subject to service tax
is there is any amount deductible from the gross amount for service tax calculation(interest on loan or repairs) etc
05 May 2011
There is no deduction of expenses in respect of Service Tax. However, service tax is applicable if the annual rent exceeds Rs. 50 Lakhs. (Correct me if I am not updated or wrong)
05 May 2011
Pl see notification 24/2007-ST dated 22/05/2007 by which property tax paid to local bodies can be deducted from the rent received.
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