Service tax on rental income from commercial property
This query is : Resolved
Durga Prasad
(Querist)
14 December 2013
If, A is a proprietor and he has a business income of Rs. 5 lacs, salary income of Rs. 3 lacs and have a rental income of Rs. 7 lacs. Is he liable to pay service tax ?
14 December 2013
No ST not attract. there is threshold exemption of Rs. 10 Lacs for service tax.
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Durga Prasad
(Querist)
14 December 2013
Sir, but if you take my gross income then it is crossing 10 lacs,does this doesn't attract ST?
Nikhil Kaushik
(Expert)
14 December 2013
Durga,
you need to check whether business income is in form of service income? if yes, then business income and rent will get clubbed and service tax will apply. else, no.
you need to check whether business income is in form of service income? if yes, then business income and rent will get clubbed and service tax will apply. else, no.
Durga Prasad
(Querist)
14 December 2013
So, if my business income is trading as well as professional income, the professional part will be included to the rental income??
Nikhil Kaushik
(Expert)
14 December 2013
yes. club all the service incomes and then check whether Rs 10 lakh limit is crossed or not.
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