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Service tax

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14 March 2015 INDUSTRIAL SHED GIVEN ON RENT IN MIDC AREA RENT RECVD RS 120000/- PM WHETHER SERVICE TAX IS APPLICABLE OR NOT AND IF APPLICABLE WHATS IS RATE OF SERVICE TAX AND MUN TAX WILL BE DEDUCTED OR NOT IF DEDUCTED WILL BE DECUTED FROM RENT RECVD OR SERVICE TAX PAYABLE
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
14 March 2015 Service tax is applicable at 12.36% of rent. You have to register with service tax and raise the rent invoice with service tax and collect the rent with service tax and pay service tax to Govt. and file service tax return half yearly.
The payer of rent will deduct TDS at 10% on rent excluding service tax.
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