Service tax on rent of immovable property
This query is : Resolved
05 November 2012
we have given our two different immovable properties on rent to two different parties, we are collecting rent them @ 100000/- p.m. and 15000/- p.m. from 1/4/2012.
When we will become liable to pay service tax and from when we shall also collect the same from the tenants?
When we will become liable to pay service tax and from when we shall also collect the same from the tenants?
05 November 2012
Hi
If in Previous Year you have not provided taxable value of Rs. 10 lac you are not required to charge Service Tax till you collect Rs.10 lacs.
Post 10 lacs you are required to charged ST on Rent amt p.m. less Muncipal Raxes pm.
Refer link for clarity:
https://www.simpletaxindia.net/2012/06/service-tax-on-renting-of-immovable.html
https://www.servicetax.gov.in/notifications/notfns-2012/st29-2012.htm
Thanks//Vaibhav
Click thank button to convey your appreciation.
If in Previous Year you have not provided taxable value of Rs. 10 lac you are not required to charge Service Tax till you collect Rs.10 lacs.
Post 10 lacs you are required to charged ST on Rent amt p.m. less Muncipal Raxes pm.
Refer link for clarity:
https://www.simpletaxindia.net/2012/06/service-tax-on-renting-of-immovable.html
https://www.servicetax.gov.in/notifications/notfns-2012/st29-2012.htm
Thanks//Vaibhav
Click thank button to convey your appreciation.
Pradeep Nainawati
(Expert)
05 November 2012
Is Property given on rent by you is used for Residence purpose by tenant?
05 November 2012
Dear Vaibhav,
By referring the same, the total collection of rent is exceeding Rs. 10 lacs by december month by Rs. 35000/-.
Now at this point i am confused about, the collecting of the service tax from the tenant in December month on Rs. 100000/- & Rs. 15000/-, while the taxable amount is coming only 35000/-?
By referring the same, the total collection of rent is exceeding Rs. 10 lacs by december month by Rs. 35000/-.
Now at this point i am confused about, the collecting of the service tax from the tenant in December month on Rs. 100000/- & Rs. 15000/-, while the taxable amount is coming only 35000/-?
Pradeep Nainawati
(Expert)
05 November 2012
No you have to charge on 35k only.
Just mention on your invoice the amount on which you charged ST.
Just mention on your invoice the amount on which you charged ST.
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
- GST Audit whether Govt Companies are exempt?
- PTRC Show Cause Notice on Email
- Accounting treatment of AMC alongwith the purchase of Laptop
- Unable to File TDS Q2 Return – New TRACES Portal Error
- Not ordinarily resident having partnership income in India and salary in USA is any form to filed be
- GST Treatment of Purchases with GST Paid where Outward Supplies of Manufactured CattleFeed Exempt
- Issuing of delivery challan by seller of goods
- Condonation Request sec 119(2) b -Enhancement Limit of Leave Exemption prior to AY 2023
- MSME disclosure and disallowance
- Taxation of crypto futures in India Fy 2026- 2027
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- 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
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
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
