Service Tax on Lease Payment.
This query is : Resolved
07 February 2011
Dear Experts
Our company has a unit of Hard Coke Unit and company wish to give the unit on lease basis i.e. actual production per MT x rate per MT. Now my quarry is that whether service tax & TDS is applicable on this type of transaction? If yes then what will be the rates.
Thanks in Advance
Pradip Pandey
Accounts Manager
M-09143208140
Our company has a unit of Hard Coke Unit and company wish to give the unit on lease basis i.e. actual production per MT x rate per MT. Now my quarry is that whether service tax & TDS is applicable on this type of transaction? If yes then what will be the rates.
Thanks in Advance
Pradip Pandey
Accounts Manager
M-09143208140
08 February 2011
Service Tax is payable on renting of immovable property@ 10.3%.
TDS is applicable under Section 194-I (on rent) @ 10%.
TDS is applicable under Section 194-I (on rent) @ 10%.
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