Durga Prasad (Trainee) (392 Points)
14 December 2013If, A is a proprietor and he has a business income of Rs. 5 lacs, salary income of Rs. 3 lacs and have a rental income of Rs. 7 lacs. Is he liable to pay service tax ?
Salman
(Student)
(28 Points)
Replied 14 December 2013
Rohit Aggarwal
(ACA Bcom (H) MBA MCom)
(470 Points)
Replied 15 December 2013
Hello Durga
The assessee is not liable to pay service tax. Note the following:
Business income: If the business is of dealing in goods then ST not applicable.
Salary: Excluded from the definition of Service.
Rental Income: Exemption can be availed.
Thanks.
CA Mukesh Choudhari
(xyz)
(153 Points)
Replied 16 December 2013
CAclubindia
