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Renting of immovable property

praveen (accountant) (57 Points)

18 January 2016

Renting of immovable property to educational institution was exempted as it constituted a part of negative list. As now it is taxable so what will be point of taxation. Payment is done twice in year as per agreement. ????

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2 Replies

VINODH N T (SENIOR MANAGER FINANCE) (47 Points)
Replied 18 January 2016

if as per the contract, invoice is raised every six months once and payment is made based on the same then the date of invoice will be taxable date [Rule 3 of Point of Taxation Rules]. However if you make any advance payment then the same will be date of commencement of taxation

regards

n t vinodh

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praveen (accountant) (57 Points)
Replied 19 January 2016

Thanks vinod ji .. As per service tax rules a Pvt. Ltd., company has to discharge his liablility in every month but as per agreement payment is done twice in a year. then how will he discharge his liability per month ? if any rule or notification please mention it .