CA
170 Points
Joined July 2015
Hi Kamlesh,
Renting of residential property is not covered under Revere charge. So, you dont have to pay service tax.
And if you are giving that property to college students for residential purpose, then it will not be known as renting so it will not be covered under negative list. But, as the (declared tariff) rent is less than Rs. 1000/-, it will be covered under Mega Exemptions vide notification no. 25/2012.
I hope your doubt is resolved.