rent from commercial property

[santosh jha]

1>  in which year service tax applied on rent receipt from commercial property and service tax  that year to till datel

2> exemption amt on commercial rental income

[JAMES PG]

Renting of Immovable property is taxable with effect from 1st June, 2007. Property taxes paid can be reduced for computing total tax liability

[Harsh Jindal]

Service tax on rent receipt from commercial property is applicable from July 1,2012.

There is no such exemption (other than property tax) on commercial rental income. However, Small Service Provider can avail the benefit of threshold limit.

AI Summary

Service tax on commercial rent applies to immovable property; property tax deductible and small-provider threshold may apply. Service tax on renting of immovable property is treated as a taxable service; property taxes paid may be deducted in computing service tax liability. The discussion records conflicting statements on the effective commencement date of the levy. No exemption for commercial rental income is identified other than the property tax adjustment, and small service providers may be eligible for threshold-based relief.