Service tax on rent of immovable property-municipal taxes
This query is : Resolved
02 March 2015
Whether house tax paid during the year also to be deducted while paying service tax amount??
02 March 2015
House tax paid during the year can be deducted from the rental income and service tax on that has to be worked out.
02 March 2015
but if till date we have not deducted taxes and paid service tax on full rent???
and one more thing house tax was aid mid of the year before that how can i work out the amount of house tax required to be deducted??
and one more thing house tax was aid mid of the year before that how can i work out the amount of house tax required to be deducted??
02 March 2015
Deduct the amount from the rent of the month in which house tax is paid and from subsequent months.
03 March 2015
If we are not getting municipal taxes from tenant we ourselves are bearing tax then also house tax amount to be deducted from rent to calculate service tax??
03 March 2015
Yes it has to be deducted from rent to calculate service tax.
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