rental from commercial building

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vignesh srinivasan (Querist)
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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

Amol Gopal Kabra (CA,CS,DISA)

Amol Gopal Kabra (CA,CS,DISA) (Expert)
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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)

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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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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