Service tax exemption in case of change of owner of immovabl
This query is : Resolved
Harish Malik
(Querist)
16 December 2013
One property owned by HUF is rented out & paying service tax regularly. Pursuant to complete partition of HUF, the said property has come to the share of two individuals. The property continues to be rented to same tenant.
The Question is whether the basic exemption of Rs. 10 lacs shall be permissble to two individuals or they shall have to continue charging & paying service tax
The Question is whether the basic exemption of Rs. 10 lacs shall be permissble to two individuals or they shall have to continue charging & paying service tax
Nikhil Kaushik
(Expert)
16 December 2013
well you can argue that it should be allowed to both. However, for that, you need to surrender HUF Service tax registration and apply for fresh service tax registration in individual names.
17 December 2013
Yes will be allowed sep to both provided first you surrender the huf service tax reg number and individually obtain the same.
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