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ST on lease rentals of college

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(Querist)
09 May 2011 Company is in infrastructue business. In a agreement with an educational society running college, land is given by society and building is made by Company on it and then this building is Leased out to society for its college.

Query : Will ST be charged on rentals received by Co. or it will fall under exemption category being building is leased out for educational purpose.

Further t depreciation when booked into books of COMPANY will it create problem ?
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Madhukar N Hiregange

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Madhukar N Hiregange (Expert)
10 May 2011 Renting of IP to colleges being educational institution is excluded in the defintion itslef and therefore not liable.
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shrey

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shrey (Querist)
10 May 2011 thanks sir fr all ur geniuses
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