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Renting of immovable property

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29 June 2013 Whether Indiviual is receveing rent of rs. 12lakhs is liable to pay service tax.

whether any exemption while calculating the taxable services.
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CA. RAGHAV GARG

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CA. RAGHAV GARG (Expert)
29 June 2013 No Exemption, Tax @ 12.36%

However, residential property is not liable to Tax.
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Bhaskaran Chackrapani Warrier

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Bhaskaran Chackrapani Warrier (Expert)
30 June 2013 Threshold exemption of Rs.10 lakhs can be availed as per notification 33/2012 dated 20-6-2012.
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CA. RAGHAV GARG

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CA. RAGHAV GARG (Expert)
01 July 2013 But the Threshold Limit is only available for One Time, and not for any subsequent years

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