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Issue ID : 4410
- 0 -

rent from commercial property

Date 23 Jul 2012
Replies2 Answers
Views 1093 Views
Asked By

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

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Replied on Jul 23, 2012
1.

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

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Replied on Aug 23, 2012
2.

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.

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