Renting of Immovable property
This query is : Resolved
ANSHUMAN KHANDELWAL
(Querist)
17 February 2009
dear all,
A partnership firm having transport business gives one of property to his sister concern & charge rent per month which is exeeding 10 Lacs pa.my query is whether firm is required to registered in service tax because renting of property is not firm`s business,its not a normal business transaction.
as per definition of service as per my understanding service tax on renting of property is applicable only when renting of property is our regular business transaction.
pl let me clear fast
Thanks
A partnership firm having transport business gives one of property to his sister concern & charge rent per month which is exeeding 10 Lacs pa.my query is whether firm is required to registered in service tax because renting of property is not firm`s business,its not a normal business transaction.
as per definition of service as per my understanding service tax on renting of property is applicable only when renting of property is our regular business transaction.
pl let me clear fast
Thanks
CA Nitin Wadhwani
(Expert)
18 February 2009
No.
Service Tax is applicable.
Service Tax is applicable.
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