10 October 2010
X & Y purchase the Commercial Building on their joint name and lease the same to ABC Ltd. for 10 years.
Case 1 Lease rental received from ABC Ltd is Rs.18 Lacs (share of X & Y is Rs.9 Lacs each)
Case 2 Lease rental received from ABC Ltd is Rs.18 Lacs (share of X & Y is Rs.12 Lacs & 6 Lacs respectively)
Case 3 Lease rental received from ABC Ltd is Rs.18 Lacs (share of X & Y is Rs.9 Lacs each but the X is CA and he is already registered with Service Tax)
Kindly advice, if the Lease Agreement evidently mentions their Rental share
Question
1. Whether there is require for Service Tax Registration for X & Y.
11 October 2010
where an individuals taxable services exceeds 10 Lakhs then only liable. Rental of IP taxability itslef is in doubt with Delhi HC staying. Revisit requirement to pay .
CAclubindia
