Service tax on residential property

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

04 May 2012 Dear Experts,
We are a partnership Firm, we have purchased two Residential Flats in an Apartment. Now we are letting it out for Rent. Is service Tax applicable on Residential Flat.

Rajnish Singh

Rajnish Singh (Expert)
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04 May 2012 DEAR SIR,
IF THIS PROPERTY ARE PURCHASE UNDER THE NAME OF FIRM AND PUT IT ON RENT . THAN SERVICE TAX IS APPLICABLE .

IN OTHER HAND EXEMPTED SUBJECT TO INCOME TAX ONLY.

FOR MORE DETAILS SEE THE RULE OF RENTAL INCOME OF IMMOVABLE PROPERTY.

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