02 December 2011
I am an Individual. I provide my property on Rent. The Rent Income is above Rs.10,00,000. Am I required to register for Service Tax and file the return.
02 December 2011
As per NN 6 dated 01.03.05 last amended by NN 8 dated 01.03.08, assessee is not required to pay service tax on initial payment RECEIVED up to rs. 10 lac if, inter alia, aggregate value of taxable services RENDERED in the preceding financial year does not exceed rs. 10 lac. However, as per Service Tax (Registration of Special Category of Persons) Rules, 2005 assessee is required to make application for registration within a period of thirty days of exceeding the aggregate value of taxable service of 9 lakh rupees.
Thus you are required to apply for registration within 30 days from the date ur aggregate value of taxable services exceeds rs. 9 lac.
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