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
Amol S Joglekar
(Expert)
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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