TDS and Service Tax on Rent
This query is : Resolved
04 February 2011
I’d like to know if service tax is applicable for immovable property like building. If so, what about TDS? Is TDS also applicable for the same? If so, on what basis TDS and Service Tax levied, on what amount? Whether on Rent or else?
04 February 2011
Q1 : if service tax is applicable for immovable property ?
Ans : This matter is pending in supreme court as well as Delhi high court. Current scene is : yes , its applicable.
Q2 : TDS
Ans : TDS is applicable only on rent.(Not on service tax)
Ans : This matter is pending in supreme court as well as Delhi high court. Current scene is : yes , its applicable.
Q2 : TDS
Ans : TDS is applicable only on rent.(Not on service tax)
05 February 2011
Q1 : if service tax is applicable for immovable property ?
Ans : Since this matter is pending in court but for safer side it is applicable
Q2 : TDS
Ans : As per srction 194 (I) TDS is applicable on payment amount of income and not on sum, therefore for rent purpose only we deduct tds without adding service tax.
Hope your doubt is clear now
Best Regards
For Asutosh & Pankaj
Chartered Accountants
Audit ! Assurance ! Risk Assesement ! Consulting
Pankaj K Jaiswal, FCA
Partner
www.anpllp.com
pankaj@ascoca.com
pankaj@anpllp.com
Call me- +91 98 1968 0011
HO : A 914 Sagar Tech Plaza, Sakinaka Junction Andheri East, Mumbai-MH-72
BO : 402 Choice A Apt, Dhole Patil Road, Pune-MH-411001 ( India )
Ans : Since this matter is pending in court but for safer side it is applicable
Q2 : TDS
Ans : As per srction 194 (I) TDS is applicable on payment amount of income and not on sum, therefore for rent purpose only we deduct tds without adding service tax.
Hope your doubt is clear now
Best Regards
For Asutosh & Pankaj
Chartered Accountants
Audit ! Assurance ! Risk Assesement ! Consulting
Pankaj K Jaiswal, FCA
Partner
www.anpllp.com
pankaj@ascoca.com
pankaj@anpllp.com
Call me- +91 98 1968 0011
HO : A 914 Sagar Tech Plaza, Sakinaka Junction Andheri East, Mumbai-MH-72
BO : 402 Choice A Apt, Dhole Patil Road, Pune-MH-411001 ( India )
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