Service tax exemption

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

18 June 2012 Hi,

I take coaching classes at a Institute and my pay is fixed at 1.5Lks per month net take home, i take payments under 2 headings, one half in my personal name and the other half in the name of the firm in which i am the managing partner, this way the total payments received under both the heads are 9Lks and hence i will be exempted of service tax,but my institute CA says that since my he is deducting Service tax to a tune of 2Lks from my annual package my total earning would actually be 10Lks under both the heads and i am liable to pay service tax, i wanted a clarification in this regards, since i am getting only 9Lks under each entity am i still liable to pay service tax for both entities?

Dayal

Dayal (Expert)
Follow

19 June 2012 So long you get paid as salary, the subject income is ruled out of service tax.

For the income received as a partner if you have not formed a partnership firm, then you as an individual drawing income from profession will be subject to service tax.

According to my view you fall under the threshold limit of service tax and not payable by you.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Join the CA Students WhatsApp Community for ICAI Updates, Trending Courses & Notes!

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

yadagiri

Tanishka Khandelwal

Rishi Jain

Mikilesh Shah

Ravi

Subscribe Now

Service tax exemption

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

Senior Executive

Manager- Finance and Compliance

GST CONSULTANT

GST CONSULTANCY

Accountant

CA Final

Article Assistant

Associate CA