Service tax on notional interest on securty deposit
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
10 November 2013
Dear Sir,
One of my client let out his commercial property and paying service on tax on rent received.
Apart from that he received fix amount as refundable security deposit.
Department demand service tax on notional interest on such security deposit.
As per my opinion service tax not payable on notional interest.
Are you agree with we ?
Please provide any case law in favour of your opinion.
One of my client let out his commercial property and paying service on tax on rent received.
Apart from that he received fix amount as refundable security deposit.
Department demand service tax on notional interest on such security deposit.
As per my opinion service tax not payable on notional interest.
Are you agree with we ?
Please provide any case law in favour of your opinion.
10 November 2013
this is new. I don't think service tax is applicable on notional interest. Rather even actual interest won't attract service tax.
You may refer to : Magarpatta Township Development & Construction Co. Ltd. Vs CCE [2013-TIOL-1068-CESTAT-MUM
You may refer to : Magarpatta Township Development & Construction Co. Ltd. Vs CCE [2013-TIOL-1068-CESTAT-MUM
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
- TDS 194-T applicability
- GST ITC REVERSE
- Fixe term employment
- Is any professional CA is here please reply
- Regarding Applicability of Tax Audit u/s 44AB
- RCM ISSUE ON RENT AND TRANSPORTATION CHARGES
- Putting a heading on received mail
- Withdrawal in cash from partners capital account by partner
- TDS on Complimentary "Desi Ghee and Gold Coin" Provided to KBC Contestants
- TDS on TRUST
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- STATUTORY AUDIT OF A SMALL PRIVATE COMPANY INCORPORATED ON 28.03.2025
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
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
