rental income with other exampt service
This query is : Resolved
CA MAHESH V GHELANI
(Querist)
10 August 2010
my client is kidney hospital and kidney hospital's total gross recept rs.40 lacs and hospital also given medical store on rent rs.18000/- per year
in these cases medical services exempt from levy of service tax how to calculat gross recept for the gross receipt of hospital.
and medical store rental income is taxable or not....?on the hand of hospital
in these cases medical services exempt from levy of service tax how to calculat gross recept for the gross receipt of hospital.
and medical store rental income is taxable or not....?on the hand of hospital
12 August 2010
The annual receipt is only Rs. 18000/- If there is no other taxable income this rental income is under the threshhold limit hence no ST is payable. However, there is no exemption is available to medical store rental income.
CMA Ramesh Krishnan
(Expert)
21 August 2010
For calculating thershold the taxable service value need to consider so only rental receipts consider for calualting Rs.10 lakhs. so your case no ST
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