R!tu Ber! (Chartered Accountant) (405 Points)
10 July 2013if somebody rents his property for residential purpose and renting is his business than is service tax applicable?
under which head income would be reported for income tax
CA vinod
(Chartered Accountant)
(518 Points)
Replied 10 July 2013
1. Any rent from house property, whether received by a dealer or a landlord, is taxable under the head ‘Income from house property’. It will remain so even if the property is held by the assessee as stock-in trade of a business or if the assessee is a company which is incorporated for the purpose of
CA vinod
(Chartered Accountant)
(518 Points)
Replied 10 July 2013
However Residential units let out for use as Residence are exempted from service Tax.
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