Renting of immovable property

This query is : Resolved

Abhijeet Khivansara (Querist)
Follow

16 January 2013 Renting of Immovable property is taxable from which year??

Is any exemption for such service if the taxable service crosses 10 lac in 2007-08.

Kaushik Vinod

Kaushik Vinod (Expert)
Follow

17 January 2013 Dear Abhijeet ,

The Renting of immovable Service is taxable from 01-07-2010 and for 2007-08 no liability since the service was not taxable at that time.

Thanks

Message likes : 1 times

Abhijeet Khivansara

Abhijeet Khivansara (Querist)
Follow

17 January 2013 Sir,
One of my friend got an notice from Service tax department & asked to produce the data from f.y 2007-08.

I'am still confuse that the date of taxability is 01/06/2007.

Thanks in advance.

Upgrade to CAclubindia Pro. Subscribe Now!

Madhukar N Hiregange

Madhukar N Hiregange (Expert)
Follow

17 January 2013 Theoretically from 1.6.2007. However till October 2010 there was a lot of doubt and if one has not collected the tax, it maybe possible to contend that only from the time of clarity is it payable.
However there maybe disputes and you need to see if it is worth the trouble.

Message likes : 1 times