Servive tax complication
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
12 April 2012
we are getting rent say around 160000, divided among 4 family members,which means 40000 per member ,now that each member seperately is earning 480000 yearly ,is he liable to pay service tax
12 April 2012
As I understand that even if rent is divided between 4 members legally you dont have separate registrations for property in the name of 4 members. For service tax it may be treated as HUF and you will be liable to pay service tax if rent exceeds Rs. 10 Lac under 'renting of immovable property service'It also depends on type of property. Some specific exemptions are given.
Value of Taxable Service : 160000*12=1920000
Value of Taxable Service : 160000*12=1920000
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