Please Help: Service Tax

Posted Date : 03-Nov-2012 , 10:45:27 am | Posted By Suman

I have rental income from my single property which is residential + commercial. The rent is 15 lacs and 3 lacs. Am I required to pay service tax. If so how much. Am I service recepient ot provider.

Category : Service Tax | Answers : 3 | Comments : 2 | Hits : 160

Answers

Answer By: Rishabh Upadhyay

Hi Suman, In Case the total rent received by you exceeds Rs 10 lacs in one financial year, you are required to get a registration under the service tax act and then you will be able to charge service tax on your rent slips issues to your tenants. Irrespective of the face that you charge service tax from your tenants or not, the liability to deposit the service tax is on to you. The rate of service tax will be 12.36%

Answer By: CA Gopal Choudhary

hi suman. You need to take registration in service tax when the receipt exceeds Rs 9 Lacs. Here the rent crosses 9 Lacs so immediately get registration otherwise you may attract penalty u/s 79

Answer By: CA Gopal Choudhary

Get Registration as a service provider .