Hi friends,
one of our client has an agreemnet with airline company . clienst has given his flat on rent to that comany and it is mentioned in agreement that the flat will be used for residential purpose for its top official like CEO CFO etc. should we collect service tax on rent.
thanks
it depend upon amt of rent ,if rent exceed 10 lakhs then collect service tax
RENT IS 50.00 LACS. I WANT KNOW THAT , DOES RENTING A HOUSE TO COMPANY FOR RESIDENTIAL PURPOSE FOR ITS TOP OFFICIAL AMOUNT TO FURTHERANCE OF BUSINESS OR NOT.
No, renting of flat for residential purpose is not taxable.
Thanks Nair SIr.
CAclubindia
