Service tax on immovable property
This query is : Resolved
ammaji rajulapati
(Querist)
24 December 2013
Friends,
In calculation of service tax on immovable property service tax is calculated Gross rent (means Rent + Hire) or after added TDS amount (Means Rent + Hire + TDS )* 12.36% which process is right. Please clarify it.
In calculation of service tax on immovable property service tax is calculated Gross rent (means Rent + Hire) or after added TDS amount (Means Rent + Hire + TDS )* 12.36% which process is right. Please clarify it.
24 December 2013
Understand with the help of the following eg:
Rent 1,00,000
Add: Service Tax @ 12.36% 12,360
Total Invoice Value 1,12,360
TDS will be deducted by the tenant on Rs. 1 lakh only.
TDS = 1,00,000*10% = 10,000
Rent 1,00,000
Add: Service Tax @ 12.36% 12,360
Total Invoice Value 1,12,360
TDS will be deducted by the tenant on Rs. 1 lakh only.
TDS = 1,00,000*10% = 10,000
ammaji rajulapati
(Querist)
24 December 2013
sir,
Rent 1,00,000
Add TDS 10,000
Service tax 12.36% 13,596
Total Invoice value 1,03,596
This process is acceptable . please clarify it.
Rent 1,00,000
Add TDS 10,000
Service tax 12.36% 13,596
Total Invoice value 1,03,596
This process is acceptable . please clarify it.
24 December 2013
No this is not correct. TDS is not added while preparing the invoice.
The landlord takes only rent & service tax in the invocie.
TDS is deducted by the tenant on the rent amount.
The landlord takes only rent & service tax in the invocie.
TDS is deducted by the tenant on the rent amount.
ammaji rajulapati
(Querist)
24 December 2013
Thanku sir.
24 December 2013
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