Service tax on immovable property rent----Urgent????????????
This query is : Open
04 March 2010
Hello Friends,
My Company has taken a building on lease in Mumbai and out of which we have sublet some portion. Kindly guide be about taxability of service tax on this mater.
PLEASE NOT WE HAVE NOT BEFORE PAID ANY SERVICE TAX ON THIS TRANXTION.
WHETHER SERVICE TAX WILL APPLICABLE ON MY COMPANY IF YES WHETHER ON LEASE RENT OR ON SUBLET RENT INCOME AND FROM WHICH DATE WE WILL COVER UNDER THIS SERVICE.
My Company has taken a building on lease in Mumbai and out of which we have sublet some portion. Kindly guide be about taxability of service tax on this mater.
PLEASE NOT WE HAVE NOT BEFORE PAID ANY SERVICE TAX ON THIS TRANXTION.
WHETHER SERVICE TAX WILL APPLICABLE ON MY COMPANY IF YES WHETHER ON LEASE RENT OR ON SUBLET RENT INCOME AND FROM WHICH DATE WE WILL COVER UNDER THIS SERVICE.
CA Shishir
(Expert)
04 March 2010
If you have sublet some portion and receiving rent and the rent will exceed Rs. 10 Lakh, then you will be required to pay ST. So, from Rs. 10,00,001/- onwards its required to pay ST. Till then even ST registration is also not required. However, it is suggested to get registered under ST once rental income crosses Rs. 9 Lakh.
04 March 2010
Sir,
We are already registered under service tax act and paying service tax on other services like GOODS TRANSPORT BY ROAD.
My question is that whether This limit of Rs. 10 Lacs is for separate services or for aggregate of total services.
IF IT IS FOR AGGREGATE SERVICES VALUE IN THIS CASE ALSO MY COMPANY CAN GET BENEFIT OF THIS RS. 10 LACS LIMIT.
PLEASE REPLY
I AM WAITING
We are already registered under service tax act and paying service tax on other services like GOODS TRANSPORT BY ROAD.
My question is that whether This limit of Rs. 10 Lacs is for separate services or for aggregate of total services.
IF IT IS FOR AGGREGATE SERVICES VALUE IN THIS CASE ALSO MY COMPANY CAN GET BENEFIT OF THIS RS. 10 LACS LIMIT.
PLEASE REPLY
I AM WAITING
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