I got a query regarding service tax. we have a lease agreement for 11 months. now if we take that into account we dont have to pay service tax. but if the lease agreement is renewed then in 12 months the service tax ceiling limit will be crossed. now what to do. to show service tax in accounts or not.
thanks
Please i need a reply asap.
If the aggregate rent paid/payable for a whole financial year exceeds Rs.10L , then tax liability arises.
Service tax will be applicable.
O P Bagla & Co LLP
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