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.
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.
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20 July 2014
After 10 lakhs you need to pay service tax.
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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.
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