Tds and service tax related query for renting space

Hello,

I have given my office space to one private company on rent of 2L/month which includes Building Maintenance, Government Taxes, electricity bill, 2 watchmen and cleaning service from my side. The company is giving me payment after deducting 10% TDS. 

 

I have also taken 6L as a deposit. Am I liable to pay any kind of tax on it? Does deposit count in turnover of 10L for service tax?

i have also invested approx 20L in furniture of office

So, My Query is Max how much TDS can I claim for refund ? also m I liable to pay service tax? If yes then how much? and a possible way to reduce that amount.

 

 

Replies (1)

"I have also taken 6L as a deposit. Am I liable to pay any kind of tax on it? Does deposit count in turnover of 10L for service tax?"

Refundable deposit, not taxable.

"My Query is Max how much TDS can I claim for refund ?" 

File return, offer tax over taxable incomes as per slab rate, and demand excess amount as refund.

"also m I liable to pay service tax? If yes then how much? "

Yes, at 15% inc. of cess, which you can charge from the tenant and pay to Government.

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