Service tax on renting of immovable property

Whether exemption of Rs. 10,00,000/- is qua service provider or Property. e.g. If a Owner has 2 properties one is let out for Rs. 1,50,000/- per month and another is let out for Rs. 7,000/- a month. In this case should he charge the Service tax on Rental Income of Rs. 7,000/-??

Dear all,

Writs were filed across the country challenging the levy and the latest news is that all the writs filed with various high courts have been now transferred to supreme cout and the matter is yet to be heard.

warm regards

vinay

I have received  advance rent in the year  F.Y 2006-07.The rent pertained to the 2007-08.But service tax levy on renting of immovable property was announced in F.Y 2007-08.Now  the question is whether i have to pay service tax on advance rent received?

Hi Sagar,

You have received advance of rent during the period F.Y 2006-07. At that period, the service "Renting of Immovable Property" was not in existence. So, there is no possibility of taxing a service income for the period when the service was not all taxable and not in existance, even though you have received the income pertaining to F.Y 2007-08.

hi

how can i find code for the service- 'Renting of immovable property service' on the site of central excise & service tax department
 

 Please advice me, I want to lease out my property for commercial purpose for rent of Rs 12000/- per month. shall I be liable for any service tax on the same. 

Dear Mr. Jain,

You can take small scale exemption, if eligible, upto Rs. Lakhs. If your taxable receipts, whether from renting service or otherwise, has exceeded the threshold limit during the previous year or exceeds the limit during the current year, you will be liable to Service Tax.

As pointed out in earlier replies, the levy of service tax on renting of immovable property for commercial use has been challanged and is under sub-judice with the Hon'ble Supreme Court. The apex court's rulings can answer the validity of the tax.

pl guide me ,and give me a accounting code of service tax of renting of immovable property