Renting of immovable property
This query is : Resolved
mOHIT sONI
(Querist)
07 August 2012
Dear Expert
I have given a land on rent amounting to Rs.2,50,000/- per month on 1st July 2012.In that i have following questions:
1. Can i get benefit of threshold exemption in first year ?
2. My aggregate value of trunover will definatelly will exceed Rs.9,00,000/- So when i have to take registration number ?
3. If i take registration now i.e. before exceeding Rs.9,00,000/- can i get benefit of exemption ?
4. Procedure for registration ?
Plz Urgent.
I have given a land on rent amounting to Rs.2,50,000/- per month on 1st July 2012.In that i have following questions:
1. Can i get benefit of threshold exemption in first year ?
2. My aggregate value of trunover will definatelly will exceed Rs.9,00,000/- So when i have to take registration number ?
3. If i take registration now i.e. before exceeding Rs.9,00,000/- can i get benefit of exemption ?
4. Procedure for registration ?
Plz Urgent.
CA CS Amit S. Kedia
(Expert)
07 August 2012
1.Renting of residential dwelling for use as residence is not taaxble but renting of land is taxable service.
2. You can get the benefit of Rs 10 lakhs in the current year and service tax shall be charged on the rent received crossing the limit of Rs. 10 lakhs.i.e first 10 lakhs no service tax.
you will have to take registration within 30 days from the date rent received crosses the limit of Rs. 9 lakhs.
2. You can get the benefit of Rs 10 lakhs in the current year and service tax shall be charged on the rent received crossing the limit of Rs. 10 lakhs.i.e first 10 lakhs no service tax.
you will have to take registration within 30 days from the date rent received crosses the limit of Rs. 9 lakhs.
CA CS Amit S. Kedia
(Expert)
07 August 2012
Procedure for Registration:-
Fill the Form ST-1 in duplicate. (Form ST-1 is available on the departmental website (www.cbec.gov.in). Enclose photocopy of PAN card, proof of address to be registered and copy of constitution/ partner ship deed etc. of the firm, if any.
Copy of PAN card is necessary as a PAN based code (Service Tax Code) is allotted to every assessee.
These forms are required to be submitted to the jurisdictional Central Excise office (in case of seven Service Tax Commissionerates, to the jurisdictional Division office). There are separate service tax commissionerates in Mumbai, Chennai, Delhi, Kolkata, Bangalore and Ahmedabad as mentioned in the previous chapter).
A person liable to pay service tax should file an application for registration within thirty days from the date on which the service tax on particular taxable service comes into effect or within thirty days from the commencement of his activity
Fill the Form ST-1 in duplicate. (Form ST-1 is available on the departmental website (www.cbec.gov.in). Enclose photocopy of PAN card, proof of address to be registered and copy of constitution/ partner ship deed etc. of the firm, if any.
Copy of PAN card is necessary as a PAN based code (Service Tax Code) is allotted to every assessee.
These forms are required to be submitted to the jurisdictional Central Excise office (in case of seven Service Tax Commissionerates, to the jurisdictional Division office). There are separate service tax commissionerates in Mumbai, Chennai, Delhi, Kolkata, Bangalore and Ahmedabad as mentioned in the previous chapter).
A person liable to pay service tax should file an application for registration within thirty days from the date on which the service tax on particular taxable service comes into effect or within thirty days from the commencement of his activity
mOHIT sONI
(Querist)
07 August 2012
Thank you sir.
But if i take early registration can i get exemption of Rs.10,00,000/- ?
But if i take early registration can i get exemption of Rs.10,00,000/- ?
CA CS Amit S. Kedia
(Expert)
07 August 2012
Yes.. you can get the benefit in the first year only even if you take early registration.
mOHIT sONI
(Querist)
07 August 2012
Thanks Sir.
Message likes :
1 times
mOHIT sONI
(Querist)
08 August 2012
Amit sir,
Now
whether above copies are needed tobe self certified(PAN etc. for registration purpose).
And in ST-3(Return) how we have to show threshold exemption.
Now
whether above copies are needed tobe self certified(PAN etc. for registration purpose).
And in ST-3(Return) how we have to show threshold exemption.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Depreciation Chart Companies Act
- EPF ECR NEW FILE SEP 17TH 2026
- Capital Gail Exemption Certificate
- Oct 2025 Invoices
- TAX AUDIT ON PROFESSIONAL INCOME
- Capitalgain tax purposes for valuation report compulsory
- SECTION 393(3) TAX ON CASH WITHDRAWAL
- Under marginal scheme
- Import of Software Service.
- GST on Renting godown to KFCSC for Storage of Raagi
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
