Tds & service tax

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sairra.A.wadhwania

sairra.A.wadhwania (Querist)
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17 March 2015 Is there a TDs on rental income, on what amount is the service tax charged?

Moksha Kalyan ram A

Moksha Kalyan ram A (Expert)
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17 March 2015 Yes, rental income has TDS for receipt above 1,80,000 @ 10% and no service tax is charged.

sairra.A.wadhwania

sairra.A.wadhwania (Querist)
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17 March 2015 Sir is it for receipt above 1,80,000 per year or per month

CA AnKiT BoHrA (AB)

CA AnKiT BoHrA (AB) (Expert)
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17 March 2015 @ Moksha Sir, Why no service tax.....

Service tax is applicable on rent also na if it crosses the the limit of 10 Lakhs...

Landlord had to charge service tax if it crosses the limtis

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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17 March 2015 https://taxguru.in/tag/service-tax-on-renting/

cases when service tax is chargeable on rental income.

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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17 March 2015 Service tax is only payable on rent from commercial property not on residential property.

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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17 March 2015 the querist have not mentioned about residential property or not...so advised accordingly.

Moksha Kalyan ram A

Moksha Kalyan ram A (Expert)
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17 March 2015 @ Tushar, you are right in the statement service tax is applicable for rental income.

I have not added those two issues.

Rental income must be above 180,000 p.a for TDS.

Service tax is applicable for rental income received with respect to commercial activities

sairra.A.wadhwania

sairra.A.wadhwania (Querist)
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19 March 2015 If e.g my rental income is 12 lakhs then pl. Let me know on what amount is the service- tax payable ? 12lakhs or 2 lakhs ?
Secondly is it on gross rental income or net income ?

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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19 March 2015 For the first year you have to pay service tax on 2 Lakhs. From next year on wards you have to pay service tax on 12 lakhs.
Municipal taxes only can be deducted from the rental income.

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