Renting of immovable property
This query is : Resolved
30 November 2012
Dear all,
When rent is collected along with service tax, whether the deduction for property tax is available or the whole amount collected as ST to be paid?(without pro.Tax adjustment)
Thanking you
When rent is collected along with service tax, whether the deduction for property tax is available or the whole amount collected as ST to be paid?(without pro.Tax adjustment)
Thanking you
30 November 2012
The procedure is you can deduct property tax (proportionate) value in the monthly rent and collect service tax on the balance amount.
Rent Rs.10,000.00
Less: prop tax Rs. -1000.00
------------
Net Rs.9000.00
Add: Ser.tax @ 12.36% .....
Rent Rs.10,000.00
Less: prop tax Rs. -1000.00
------------
Net Rs.9000.00
Add: Ser.tax @ 12.36% .....
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
- Tax on Deemed Capital Gain
- Type of Capital Gain
- Exiting partner in partnership firm in gst portal
- Reporting in TDS return
- Consequences of Non-Deduction of TDS under Income Tax???????????????
- Gst on travel by air for business purposes
- Can a single LLP in India legally operate multiple unrelated businesses (Travel, Cloud Kitchen, Ecom
- Banking Related Issue
- Residential status of non resident
- ITR-3 File/Error Found
- CASH GIFT FROM BLOOD RELATIVE
- Account freezed for Ineligible ITC Scrutiny for GST Annual Return
- Rent claimed on building given on permissive possession basis
- TDS on property - Form 141 query
- Seeking Advice: High Tax Shortfall on Job Switch + Let-Out House Property Loss in FY 2025-26
- Housing Society-ITR5
- TDS on Rent received on redevelopment of building
- Indian IT Portal issue in computing tax as per UK-India DTAA
- Capital Gains on sale of residential flat
- Upload Level ValidationITR3Category of Defect B/D
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
