22 May 2012
A company recieved rent of rs. 6,00,000 in the year 2010-11.Further company recieved/accrued rental income of rs. 18,00,000 in the year 2011-12. whether company is liable to pay service tax in the year 2011-12 or it will be liable to pay from 2012-13? please clarify the limit of rs. 10,00,000 and how it will be dealt in this case???
22 May 2012
The taxable services in the pr yr is important- not whether recived or not- for the purpose of knowing whether oneis eleigible for the exemption. If the taxable services in the pr yr is less than 10L then no liability this year upto Rs. 10 Lakhs of receipt.
CAclubindia
