Hi,
I have rented an industrial property to a compnay at Rs. 90,000 per month. I pay Rs. 4554 as a municipal property tax. The company is telling me to raise the invoice deducting the propotionate amount(4554/12= 379.5) of municipal property tax.
My question is how the invoice needs to be made.
Do I have to deduct the propotionate amount from the 90000 and them add service tax to it which will result in ((90000-379.5)+14.5%), or the basic amount will be 90000 only and service tax will be imposed deducting the propotionate amount of Rs. 379.5 (90000+(14.5* 89620.5/100)).
CAclubindia
