08 October 2009
One of my friend purchased property of Rs.1.5 Crores. Single property purchased with specific shares by 5 family members. Annual Rent is Rs.12.00 Lacs divided among 5 family members. Notice is received from Service tax Department to deposit Service tax. As per their opinion service-tax levivable. Individual rent income is Rs. 240K hence service tax is not payable as per my knowledge. Please help.
09 October 2009
if the property is in the name of 5 person & if u can prove the same u can apply for rectification of notice to concerned service tax department.
CAclubindia
