Security deposit- rent
This query is : Resolved
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 ?
09 February 2013
yes service tax is applicable on rental income although it has been booked by forfeiting the security deposit.
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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