Service tax certificate
This query is : Resolved
20 July 2014
Dear sir,
my commission income 500000 & mu rental income 400000 . so I should apply ST 1 or not.
TARUN ARORA
(Expert)
20 July 2014
Dear Mr. Manas,
If your rental income is from "renting of residential dwelling for use as residence" then the same shall not be taken in consideration while calculating the limit of Rs 9,00,000/-.
The above is opined from the reading of Sec 66B which is as follows:
" There shall be levied a tax (hereinafter referred to as service tax) at the rate of 12% on the value of all services, other than those specified in the negative list...."
And clause m of Sec 66D specifies "renting of residential dwelling for use as residence"
So if your rental income is from residential unit used for residential purose then it will not be considered otherwise it will be considered.
If your rental income is from "renting of residential dwelling for use as residence" then the same shall not be taken in consideration while calculating the limit of Rs 9,00,000/-.
The above is opined from the reading of Sec 66B which is as follows:
" There shall be levied a tax (hereinafter referred to as service tax) at the rate of 12% on the value of all services, other than those specified in the negative list...."
And clause m of Sec 66D specifies "renting of residential dwelling for use as residence"
So if your rental income is from residential unit used for residential purose then it will not be considered otherwise it will be considered.
Message likes :
1 times
Arun Kumar Singh
(Expert)
20 July 2014
After 10 lakhs you need to pay service tax.
Message likes :
1 times
20 July 2014
No, because aggregate value of taxable services didn't exceed Rs. 9 lakhs.
Ref:- Notification 26/2005-ST as amended by notification 9/2008-ST.
Ref:- Notification 26/2005-ST as amended by notification 9/2008-ST.
Message likes :
1 times
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
- GST Audit whether Govt Companies are exempt?
- PTRC Show Cause Notice on Email
- Accounting treatment of AMC alongwith the purchase of Laptop
- Unable to File TDS Q2 Return – New TRACES Portal Error
- GST Treatment of Purchases with GST Paid where Outward Supplies of Manufactured CattleFeed Exempt
- MSME disclosure and disallowance
- Taxation of crypto futures in India Fy 2026- 2027
- Transfer of Physical Stock Between Two Proprietorship Concerns
- Not ordinarily resident having partnership income in India and salary in USA is any form to filed be
- Condonation Request sec 119(2) b -Enhancement Limit of Leave Exemption prior to AY 2023
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
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
