In case of a Co-Ownership Commercial Property let out on rent will the question of service tax levy arise if the individual share of rent does not exceed or equals Rs. 8 Lac ?
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Service Tax On Co-owned Commercial Property
Replies (3)
The exemption would be available co-owner wise and not for the property as a whole..
The exemption would be available co-owner wise. You can also visit https://www.taxmanagementindia.com
If a commercial property rented and the total annual rent received is Rs44Lakhs and the property is owned by 4 coowners and the lease agreement states that the rent will be inclusive of all the taxes.Will the service tax would be lieved ndnd the exemption of Rs 10lakhs is for the property or for the assesee.And what if there are 8 cowners including 4 spouses of 4 cowners are receiving the Rent
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