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Service tax on rent of residential property

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(Querist)
14 October 2014 If any builder or any company let out a flat for residential purpose,
Service tax will be chargeable on this rent or not?
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
14 October 2014 If it is used for residential purpose no service tax will be payable.
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Punit Agrawal

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Punit Agrawal (Querist)
14 October 2014 builder is registered under service tax.
And also have rental income of Rs. 897000/- from commercial property let out.
And residential flat is going to be let out for 21000/-pm.
Then?
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PAWAN KUMAR

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PAWAN KUMAR (Expert)
14 October 2014 Service is under negative list of services as per section 66D(m), hence not liable for service tax.
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Punit Agrawal

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Punit Agrawal (Querist)
14 October 2014 I read somewhere that if Rental income exceeds 10 lacs then service tax will be charged? is it true or not?
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
14 October 2014 If it is a residential property used for residence the rental income even it exceeds 10 lacs no service tax payable.

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