Renting of immovable property
This query is : Resolved
28 November 2012
Suppose A collects rent on immovable property from B,
Charges ser tax on bill of rs 100 and collects the same.
Also , A pays property tax of rs 25
Is A liable to pay st to govt rs 75 or rs 100??
My doubt is mainly that u hav to collect full but pay less, or collect less and pay the full amt so collected?
Charges ser tax on bill of rs 100 and collects the same.
Also , A pays property tax of rs 25
Is A liable to pay st to govt rs 75 or rs 100??
My doubt is mainly that u hav to collect full but pay less, or collect less and pay the full amt so collected?
28 November 2012
Property tax is to be deducted form rental amount not from the service tax.
Suppose: Rent ,1000
Property Tax-100
Taxable service =1000-100
i,e 900
Service tax =900*12.36%=111
Suppose: Rent ,1000
Property Tax-100
Taxable service =1000-100
i,e 900
Service tax =900*12.36%=111
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