Tax on joint property rent used for commercial use
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
12 June 2015
a property owning three individual jointly, given for commercial use and withdrawing a rent of 125000.00 p/m and depositing to an account in the name of "mayur shopping complex"
whether service tax applicable on this rent?
total rent will be 1500000.00 p/a
tds is deducting and depositing on the three partners
whether service tax applicable on this rent?
total rent will be 1500000.00 p/a
tds is deducting and depositing on the three partners
12 June 2015
If they are JOINT owners, each one of them is assessed separately for service tax. So, each one will enjoy separate service tax limit.
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