Service tax on Rental Income

(Guest)

"happay deepawali" to all

Madhukar N Hiregange (Chartered Accountant) (38934 Points)
Replied 28 October 2008

The joint property is presumed to be assessed in separate names and if you can get 2 cheques then there seems to be no issues with the agreement also confiring the joint ownership. Each wouldbe eligible for the 10Lakhs exemption.

(Guest)

my monthly rent from a commercial property is gross rs.80,000/- after tds rs.67640/- what and how much will be my service tax liability as tenant refuses to pay service tax as in rent agreement registered all taxes are to be borne by me(landlord)

kindly inform

(Guest)

Originally posted by :Sadhuanj

"

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 ?

In the case of Renting of immovable property services service provider has to pay the tax. Since you are covered under individual category, you need to pay quarterly on the rental income received @ 12.36%

"

(Guest)

Sir, we have a property which is divided into three shares ground floor is ownd by my wife first floor is owned by me and the second floor is owned by my son. the partition is done by the honarable court . the rent of ground floor is recieved by my wife and the first floor rent is recieved by me by separate tenants can the department club the entire property for calculation of service tax

(Guest)

Sir, we have a property which is divided into three shares ground floor is ownd by my wife first floor is owned by me and the second floor is owned by my son. the partition is done by the honarable court . the rent of ground floor is recieved by my wife and the first floor rent is recieved by me by separate tenants can the department club the entire property for calculation of service tax

(Guest)

Originally posted by :Guest
"	Sir, we have a property which is divided into three shares ground floor is ownd by my wife first floor is owned by me and the second floor is owned by my son. the partition is done by the honarable court . the rent of ground floor is recieved by my wife and the first floor rent is recieved by me by separate tenants can the department club the entire property for calculation of service tax	"

(Guest)

Originally posted by :Guest
"	Sir, we have a property which is divided into three shares ground floor is ownd by my wife first floor is owned by me and the second floor is owned by my son. the partition is done by the honarable court . the rent of ground floor is recieved by my wife and the first floor rent is recieved by me by separate tenants can the department club the entire property for calculation of service tax	"

(Guest)

Sir, we have a property which is divided into three shares ground floor is ownd by my wife first floor is owned by me and the second floor is owned by my son. the partition is done by the honarable court . the rent of ground floor is recieved by my wife and the first floor rent is recieved by me by separate tenants can the department club the entire property for calculation of service tax

"

(Guest)

sir,

how can i recieve my reply please reply

(Guest)

I have taken a corporate office(Commercial) space on rent in gurgaon and paying Rs.47000 per month.owner has registered that property by a company not any indiavidaul name.should i pay the service tax on rent or it is exempt? please suggest me.

Aditi (Business) (22 Points)
Replied 10 February 2009

I have a computer institute and I provide my computers on rent for that I have to charge service tax on bill or not

Aditi (Business) (22 Points)
Replied 10 February 2009

I have a computer institute and I provide my computers on rent for that I have to charge service tax on bill or not

Madhukar N Hiregange (Chartered Accountant) (38934 Points)
Replied 11 February 2009

Originally posted by :Sadhuanj
"	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 ?	"

In case of joint property where the income is also treated separately there should be no liability as the ST is qua service provider ( owner). Therefore each woul dbe eligible for the 10 lakhs exemption under Not 6/2005. However it maybe preferable that the separate cheques be issued by the software company to avoid demands in future.

Madhukar N Hiregange (Chartered Accountant) (38934 Points)
Replied 11 February 2009

Originally posted by :Sadhuanj
"	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 ?	"

In case of joint property where the income is also treated separately there should be no liability as the ST is qua service provider ( owner). Therefore each woul dbe eligible for the 10 lakhs exemption under Not 6/2005. However it maybe preferable that the separate cheques be issued by the software company to avoid demands in future.

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