Service tax on rent
This query is : Resolved
Anu Elizabeth Shaju
(Querist)
30 April 2013
regarding the new notification which came into effect from 1-7-2012, can you give me a brief idea on service tax application on rent??
how is the tds application then??
pls reply..
how is the tds application then??
pls reply..
CA Vikas Acharya
(Expert)
30 April 2013
yes on renting of immovable property
as per declared services point a
on renting of movable property, as per declared service point f
though there are few exemptions
like renting of residential property for residential property.
if commercial property = taxable
if residential for commercial purpose = taxable
again some other exemption in 25/2012 notification
type '25/20012 service tax' and see point 1 , 18 , 9
as per declared services point a
on renting of movable property, as per declared service point f
though there are few exemptions
like renting of residential property for residential property.
if commercial property = taxable
if residential for commercial purpose = taxable
again some other exemption in 25/2012 notification
type '25/20012 service tax' and see point 1 , 18 , 9
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Anu Elizabeth Shaju
(Querist)
01 May 2013
THANK YOU SIR...:)
hence the service provider is liable to collect and remit the service tax if the threshold limit exceeds 10 lakhs...
hence the service provider is liable to collect and remit the service tax if the threshold limit exceeds 10 lakhs...
CA Vikas Acharya
(Expert)
02 May 2013
yes..
again with this 10 lakhs limit the condition is that in last year the total value of rent must be less than 10 lacks,
otherwise no threshold limit for this year.
again with this 10 lakhs limit the condition is that in last year the total value of rent must be less than 10 lacks,
otherwise no threshold limit for this year.
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Anu Elizabeth Shaju
(Querist)
02 May 2013
okay...im grateful to you,sir
13 June 2013
Yes I agree with the expert
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