TaxTMI 
TaxTMI 
Threshhold limit of Rs.8,00,000/- applicability on renting of immovable property.
08 Mar 2007 
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Threshold limit for service tax exemptions applies to renting of immovable property, affecting commercial leases after notification.
A statutory exemption threshold for taxable services was raised by Notification No. 04/2007 and applies to renting of immovable property for commercial purposes; the enhanced aggregate-value exemption governs all services chargeable to service tax within a financial year. The aggregation for the threshold is calculated from the notification's effective date, so rents prior to that date are not included in post-notification aggregation for the exemption. (AI Summary)
A statutory exemption threshold for taxable services was raised by Notification No. 04/2007 and applies to renting of immovable property for commercial purposes; the enhanced aggregate-value exemption governs all services chargeable to service tax within a financial year. The aggregation for the threshold is calculated from the notification's effective date, so rents prior to that date are not included in post-notification aggregation for the exemption. (AI Summary)
Whether threshhold limit of Rs.8,00,000/- is applicable to renting of immovable property.