Renting of immovable property
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
20 March 2014
A company in order to join as a partner in a firm gives its own assets for the use of business. Company does not receive any interest or rent for the same. It receives only share of profit. Property of the company is used just for business by the firm. Will the profit received will be taken as considerastion for property n should be chargeable to service tax?
20 March 2014
yes it is chargeable to service tax by whateevr name is given fr consideration.
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