SIR., MY ONLY INCOME IS ON COMMERCIAL PROPERTY RENT RECEIVED EVERY MONTH.1. KINDLY EXPLAIN HOW TO CALCULATE SERVICE TAX. 2.WHO HAS TO PAY, I.E THE OWENER OF THE BUILDING/PROPERTY ,OR THE TENANT. 3. WHOM TO PAY 4. PAYMENT YEARLY OR MONTHLY. KINDLY EXPALIN IN DETAIL. THANKING YOU. SAS PRASAD [sasprasad@rediffmail.com]
RE:SERVICE TAX ON COMMERCIAL PROPERTY RENT RECEIVED
by vinay shitut on Mar 08, 2007 01:47 PM Permalink
1]Service tax is payable only when you letout your property to businessman for carrying commercial activity in your premises, if you let out your property for residence or educational institution other than commercial coaching classes (Coaching classes are not covered under educational institution defination as per ST law)
2]Pl. wait, budget speech is not final to date. It will take 2 to 3 months to pass the budget. Once the budget passed then one will get idea that how to charge service tax on rental income from let property, letting to commercial activity only not for residence as explain 1. Vinay Ashok Shitut
