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 ?
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Service tax
Replies (2)
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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