Sachin (Auto Dealers) (36 Points)
06 April 2010I have a annual commercial rental income of 900000(nine lakhs) I have a residential property which i want to rent
the further rent would be 300000 per anum. i would like to know if the exempted residential rental will be added to my service taxable income?
@ CA. $ahar$h @
(Student)
(338 Points)
Replied 06 April 2010
In case of renting of immovable properties, it is mention that service tax is applicable in case the immovable property is let for commercial or business purpose. so if the building u are letting is gonna be used for business or as commercial purpose then u will be covered in service tax limit.
Madhukar N Hiregange
(Chartered Accountant)
(39034 Points)
Replied 06 April 2010
| Originally posted by : Sachin | ||
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The amount recived towards residential premises rent would NOT be added for arriving at the taxable service limit of Rs. 10 lakhs of commercial rent. |
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