Service tax & property tax

1182 views

Save Share

CA Chandani

165 Points Posted on 14 March 2012

Just a Query about Co relation of Service tax on Rent & Property TAx Paid.

If an entity pays ST on Rent as leviable......& also Property tax against same property.....is any setoff available among the two.

Say if 100Rs Rent

Rs 10 Property Tax

& ST caln also comes to say 10Rs.

Thn Property tax set off is availble or not.

or the viceversa ......

Kindly Let me know.

Thanks & Regards

Replies (2)

Giridhar S Karandikar

Team Lead

5675 Points Posted on 16 March 2012

No such set-off is available. The property tax is levied on your property as per the applicbale amounts of the Municipal corporation, while the service tax is levied on your the rent whihc is considered as your income.

You get the benefit of property tax paid only if you have let-out your property & you are earning rental income.

propertymesh

individual

24 Points Posted on 13 August 2012

Hey Hi,
Really very nice blog. So much impressive blog

what to say about it. However I guess your

blog visitors might find it interesting too
for any real estate., rent or lease residential flats, studio apartments, bungalows and commercial or office space across India. available for sell,rent

PropertyMesh - The reality network