Service tax applicable on rent

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

18 August 2012 I am a individual, i given my land for rent Rs.74000/- pm, then i will pay the any service tax for this monthly transaction, please give advise and provide any site for service tax

CA Navin Jain

CA Navin Jain (Expert)
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18 August 2012 in your case service tax is not applicable.

CA Suresh Jain

CA Suresh Jain (Expert)
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18 August 2012 Please note that service tax is exempted if the value of services provided by an assessee is less than Rs. 10 lakh in a financial year

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RENGARAJ R.K

RENGARAJ R.K (Expert)
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19 August 2012 Yes, one can claim exemption of service tax up to 10 lacs in a year, April to March. In your case, it will not cross 12 lacs in this year.