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Service tax

Queries 361 views 2 replies

BIKASH KUMAR JHA

Student CA Final

24 Points Posted on 14 January 2015

If an Individual letout his property to bank and further bank letout to his employees for residential use on temporary basis.Then Assessee is liable to charge service tax or not ?

Replies (2)

Guest

As per entry 66D(m), Services by way of Renting of Residential dwelling for use as residence is not liable to service tax.

In this case, as the property used for residential purpose, this exclusion could be applicable & not liablr to service tax.

@CS Siddharth Bumb.

B.Com CA Final CS

5270 Points Posted on 15 January 2015

In this case an Individual is providing service to bank as RENTING OF PROPERTY u/s 66E, hence in this situation such individual should collect service tax from bank.

Another situation is bank is sub-letting such property for residential purpose to its employees. As per section 66D, no service tax is leviable where any property is let out for residential dwelling purpose.

Rectify me if i am wrong.

Thanks.

Regards,

Siddharth Bumb

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