service tax
This query is : Resolved
25 March 2008
can both service tax and income tax be levied on renting of immovable properties ... this issue was under contraversy ,,, what is the clarification
25 March 2008
Yes TDS deducted by the payer on behalf of receiver and Service Tax paid by the receiver.
25 March 2008
yes
26 March 2008
yes both Income tax and service tax both can be charged on rented property. It is not a double taxation, because one is charged on payer and other is charged to payee. one is direct tax and other one is indirect tax.
01 April 2008
Service tax is an indirect tax and income tax is a direct tax, indirect taxes are levied on the transaction and direct taxes are levied on the income earned by that transaction.
Service tax is leviable on the transaction value, means the gross amt. of rent-local taxes paid.
While income tax will be levied as per income tax act under house property.
Service tax is leviable on the transaction value, means the gross amt. of rent-local taxes paid.
While income tax will be levied as per income tax act under house property.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Supply through E-commerce Operators
- STCG....................................................
- Sales return eway bill
- TAN for Partnership
- Relief u/s Section 89
- AMOUNT RECEIVED UNDER COMPULOSRY ACQUISITION OF AGRICULTURAL LAND
- STCG FOR GOLD ETFs
- SALE BILL AGAINST GOODS RETURN
- GST ON DAMAGED GOODS
- Taxation on LTCG for property sold after 24JUL2024
- TDS related Query_Liquidated Damages
- Section 54F - Exemption on LTCG in 2026 for HP purchased in 2023
- Sales amount in Gstr1
- CG after sale of flat
- E Commerce GSTR1 & 3B how to file
- Nomination of Bank for refund in itr 2
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
