If co-owners (Husband & Wife)(Their shares are 50:50) receiving total rent of Rs. 18,50,000 pa. from leasing of a commercial immoveable property. Are they liable for payment of service tax?
09 January 2012
The service tax is applicable to the service provider wise not a service wise.. if your assessee' taxable service is not exceeding the threshold limit then you are not required to take registration of service tax.
Assuming your assessee is not providing any other taxable service except the renting of immovable property then they are not liable for service tax. since the amount is Rs.9.25 lacs only in each case...
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