Service tax on rent of residential property

This query is : Resolved

Punit Agrawal (Querist)
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14 October 2014 If any builder or any company let out a flat for residential purpose,
Service tax will be chargeable on this rent or not?

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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14 October 2014 If it is used for residential purpose no service tax will be payable.

Punit Agrawal

Punit Agrawal (Querist)
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14 October 2014 builder is registered under service tax.
And also have rental income of Rs. 897000/- from commercial property let out.
And residential flat is going to be let out for 21000/-pm.
Then?

PAWAN KUMAR

PAWAN KUMAR (Expert)
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14 October 2014 Service is under negative list of services as per section 66D(m), hence not liable for service tax.

Punit Agrawal

Punit Agrawal (Querist)
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14 October 2014 I read somewhere that if Rental income exceeds 10 lacs then service tax will be charged? is it true or not?

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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14 October 2014 If it is a residential property used for residence the rental income even it exceeds 10 lacs no service tax payable.

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Service tax on rent of residential property

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