Renting of immovable property
This query is : Resolved
19 September 2011
Respected experts
Please guide me in my following query.
Fact
Real estate developer construct a residential cum commercial building.
Now he let out the some unsold portion of commercial as well as residential units.
In this situation whether service tax is calculated on rent income from residential unit or not.
How to calculate service tax
Please reply.
Thanks in advance.
Please guide me in my following query.
Fact
Real estate developer construct a residential cum commercial building.
Now he let out the some unsold portion of commercial as well as residential units.
In this situation whether service tax is calculated on rent income from residential unit or not.
How to calculate service tax
Please reply.
Thanks in advance.
19 September 2011
Service tax will be calculated on total value and no bifurcation will be made of the same.
19 September 2011
Thanks Vishrut
But further more clarification with any case law if any, required pls help
But further more clarification with any case law if any, required pls help
21 September 2011
Hi Hemant,
Explanation 2 to Section 65(105)(zzzz) reads as follows - Explanation 2. - For the purposes of this sub-clause, an immovable property partly for use in the course or furtherance of business or commerce and partly for residential or any other purposes shall be deemed to be immovable property for use in the course or furtherance of business or commerce.
Thus service tax would be applicable even on residential portion.
Explanation 2 to Section 65(105)(zzzz) reads as follows - Explanation 2. - For the purposes of this sub-clause, an immovable property partly for use in the course or furtherance of business or commerce and partly for residential or any other purposes shall be deemed to be immovable property for use in the course or furtherance of business or commerce.
Thus service tax would be applicable even on residential portion.
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