Service tax on rental income
This query is : Resolved
04 April 2015
please guide me for service tax on rental income. one of my client has given property on rent for rs. 12500 p.m.
04 April 2015
Residential units let-out for use as Residence are exempted from Service Tax.
Service Tax on Residential units let-out for the purpose of any commercial activity would come under the purview of tax and thus service tax would be liable to be paid on Residential Units let-out for the purpose of any commercial activity.
Service Tax is only mandatorily liable to be paid if the total value of services provided by the service provider exceeds the threshold limit of Rs. 10 Lakhs p.a. If the total value of all services provided by the service provider is less than Rs. 10 Lakhs p.a., he is not mandatorily liable to pay service tax.
Service Tax on Residential units let-out for the purpose of any commercial activity would come under the purview of tax and thus service tax would be liable to be paid on Residential Units let-out for the purpose of any commercial activity.
Service Tax is only mandatorily liable to be paid if the total value of services provided by the service provider exceeds the threshold limit of Rs. 10 Lakhs p.a. If the total value of all services provided by the service provider is less than Rs. 10 Lakhs p.a., he is not mandatorily liable to pay service tax.
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