23 November 2010
In order to clarify the legislative intent and also bring in certainty in tax liability the activity of renting of immovable property per se would constitute a taxable service.This amendment is being given retrospective effect from 01.06.2007 in the Budget 2010.
Hence the service tax needs to be collected from the tenants & deposited to the credited of Central Government.
23 November 2010
Pl read the AP High Court decision in http://www.accommodationtimes.com/real-estate-news/service-tax-on-renting-of-immovable-properties-ap-high-court-stays-retrospective-amendment/
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