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Service tax on renting of immovable property

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Querist : Anonymous

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Querist : Anonymous (Querist)
25 February 2014
RENTAL INCOME FROM A PROPERTY USED FOR COMMERCIAL PURPOSE HELD BY 3 OWNERS (IN THE RATIO 30% , 30%, 40%)IS RS. 2900000/-.

WHETHER SERVICE TAX THRESH HOLD LIMIT OF RS. 1000000/- IS CONSIDERED FOR THE WHOLE PROPERTY OR ON THE INDIVIDUAL INCOME FROM SUCH SERVICES.
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Bhaskaran Chackrapani Warrier

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Bhaskaran Chackrapani Warrier (Expert)
25 February 2014 Threshold limit can be availed by each co-owner's separately.

Citation:- Dilip Parikh Vs.Commissioner of Service-tax, Ahmedabad [2014] 41 Taxmann.com 311 (Ahmd - CESTAT).
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Querist : Anonymous

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Querist : Anonymous (Querist)
26 February 2014 Thanks for the assistance
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