Service tax on rent of residential property
This query is : Resolved
Punit Agrawal
(Querist)
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?
Service tax will be chargeable on this rent or not?
CA R SEETHARAMAN
(Expert)
14 October 2014
If it is used for residential purpose no service tax will be payable.
Punit Agrawal
(Querist)
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?
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
(Expert)
14 October 2014
Service is under negative list of services as per section 66D(m), hence not liable for service tax.
Punit Agrawal
(Querist)
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
(Expert)
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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