Service tax on Rental Income

Sadhuanj (MBA) (68 Points)

22 May 2007  

I am receiving a rent Rs 1.00 lakh per month which is sharing equally myself and my wife. The property is in the joint name. The property has given letout for a software company. As per the latest provisions of service tax, the service tax will be levied on rentals. Please guide the service tax provisions, whether service tax applicable to this case? In case if required to pay service tax.. who has to pay the service tax i.e service provider or service receiver. Please clarify ?