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Security deposit- rent

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CA C.JANANI

CA C.JANANI (Querist)
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09 February 2013 The security deposit held towards rental if forfeited because of short notice by tenants and if the same is written back as income, is service tax applicable on the same ?

CA Parul Saxena

CA Parul Saxena (Expert)
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09 February 2013 yes service tax is applicable on rental income although it has been booked by forfeiting the security deposit.

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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09 February 2013 If a refundable deposit is forfeited for non payment of rent, such deposit would take colour of rent and therefore, shall be taxable under Service Tax law.

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