Limit of service tax in india

This query is : Resolved

Report Abuse Follow Query Ask a Query

Querist : Anonymous

Querist : Anonymous (Querist)

17 August 2012 sir,
please tell me, service tax on house rent and its limit for the fin. year 2012-13

Amol S Joglekar

Amol S Joglekar (Expert)
Follow

17 August 2012 negative list suggests that renting og residential property shall not attract service tax. Renting of commercial properties falls under the net of service tax. Assessee wise limit is 10 lakh.

RENGARAJ R.K

RENGARAJ R.K (Expert)
Follow

21 August 2012 Yes, renting of residential property is not taxable. At the same time if any commercial activity is done at the house and in a portion, it will be treated as taxable. For e.g you are letting the house to a lawyer in the ground floor and in the first floor he runs a advocate firm. In such case, the first floor rent is taxable.

Upgrade to CAclubindia Pro. Subscribe Now!