hello sir
we have rented our hours for apollo college students which completely mamaged by apollo. we get payments from apollo only as monthly rent after deducting tds 10%. can u suggest me will giving rent to hostel apply changes in property tax. it is consider commercial or residential.
Renting Residential Property as Student Hostel Considered Commercial, Subject to Service Tax; TDS Deductions Apply with Conditions. A property owner inquired about the tax implications of renting a property to a college for use as a student hostel, specifically whether it would be considered commercial or residential for property tax purposes. Respondents clarified that renting a residential property for commercial purposes, such as a hostel, is considered commercial. Consequently, it is subject to service tax under the renting of immovable property service. While property tax can be excluded from the taxable value, TDS deductions cannot. Additional advice included not deducting TDS on the service tax component if shown separately on invoices. (AI Summary)
Service Tax
TaxTMI 
TaxTMI 
