hiii,
1. if a shareholder in a company has given a house on rent for commercial purpose then is there any tax or law compliance attracted?
2.If the shareholder is paying service tax on rent against immovable can he get any allowance if some input services like - Security Services are paid by the company
Sir,
In this reagrd Input credit is not edmissable for paying service tax under Rent on Imovable Propery but various tax is applicable i.e. Income Tax incl. (TDS) & Service Tax.
To be discussion in this regard are pending plz forawrd the same within one week i.e.
i) Exemption limit is applicable or not Rs. 1,80,000.00
ii) Input credit is admissable as a Cenvat Credit on Inmovable Property rerc. by the business entity.
Hope you can undersatnd, if you haviong other observation in this reagrd forward the same.
Varma Raja & Associates
Thrissur
CA Inter
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Arpan Bohra & Co
Hyderabad
CA Inter
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CCI
Pro
CAclubindia
