Service tax applicable on rent
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
18 August 2012
I am a individual, i given my land for rent Rs.74000/- pm, then i will pay the any service tax for this monthly transaction, please give advise and provide any site for service tax
CA Navin Jain
(Expert)
18 August 2012
in your case service tax is not applicable.
CA Suresh Jain
(Expert)
18 August 2012
Please note that service tax is exempted if the value of services provided by an assessee is less than Rs. 10 lakh in a financial year
RENGARAJ R.K
(Expert)
19 August 2012
Yes, one can claim exemption of service tax up to 10 lacs in a year, April to March. In your case, it will not cross 12 lacs in this year.
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