Service tax
This query is : Resolved
15 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 PROPERTY TAX WILL BE DEDUCTED OR NOT IF DEDUCTED WILL BE DECUTED FROM RENT RECVD OR SERVICE TAX PAYABLE
15 March 2015
Service tax applicable at 12.36% on rent received. Property tax can be reduced from the rent receipt not on service tax.
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16 March 2015
For the first year need to pay service tax on rent exceeding 10 lakhs.
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