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?
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?
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.
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
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Gst credit note by supplier
- Movement of goods by packers and movers - type of sale - Reg.
- GST on reimbursement of expenses
- Due date for filing return for the partner in partnership subjected to Tax Audit
- Missed uploading GST Invoice
- Query on effect of registration of property
- Gratuity paid to legal heir above 20 lakh is taxable or not
- Wrong CMPo8 file
- Equity Share Sale and Purchase
- Goodwill transfer of deceased father’s firm – ICAI applying a 27.04.2026 cut-off to the 3 year limit
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- "Please ensure that the Total of the Deductions u/s 54F match the same in Table D in Sch CG"
- Need to correct "Whether it is last installment " response in Form 26 QB
- " Income from House Property " in joint names of co-owners
- REGARDING TDS RETURN OF FORM 27Q
- Notice under e-Verification Scheme
- GST demand notice for ITC reversal against exempted supply.
- RCM ON SECURITY CHARGES FROM INDIVIDUALS
- How to get money back from delisted company
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
