A property is co owned by two persons jointly. Rent is received is crossing threshhold limit of Rs. 10.00 lacs but below 20.00 lacs. The owners status as per income tax is AOP and Income tax return is filed as Assocoation of Persons. The rent received is withdrwan equally by both the co owners from bank account where the rent received is deposited. Can both claim that since rent received is less than 10 lacs by each of the co owners and service tax is not payable or service tax is payable considering the rent received jointly and crossing 10 lacs.
Menu
Service tax applicability
Replies (2)
Sir,
In my view only Individual Exemption limit is 10 lakh but in the your case Service-Tax is manadatory Association of person. You should clarify those circumstances.
Further check the www.cbec.gov.in
I think yes.
Recent Topic
- Form 10E u/s. 89(1). Need clarification because Ex
- Long Term Capital Loss - Tata Capital unlisted sha
- Section 54F deduction - GST and Stamp Duty cost wh
- Professional Crossed 20 Laks in Dec 26 Failed to T
- F&O in ITR
- CA Final Self pace Module
- Query Regarding House Ownership Transfer Reflected
- Money transction within Family
- ITR-2 salary breakup updation
- Application for ₹2 Crore Term Loan under Cre
Related Topics
CAclubindia
