Exemption availability on rent received

[JOSHIL JAIN]

I have given a property to a company on which I receive annual rent of Rs. 500000.00. Whether I have to charge service tax on that or a exemption of Rs. 8,00,000.00 is available to me. Please also advise if the property is let out to company with five other coowners. and each getting Rs. 5,00,000.00 Then what will be the position regarding service tax. Please advise.

AI Summary

Service Tax Exemption on Rent: Individual and Co-Owner Scenarios Explained Under Rs. 8,00,000 Limit A property owner inquired about the applicability of service tax on annual rent received from leasing a property to a company. The individual receives Rs. 500,000 annually and questioned whether they qualify for an exemption of Rs. 8,00,000. Additionally, the scenario of co-owners each receiving Rs. 500,000 was raised. The response clarified that service tax is applicable to the service receiver, and the exemption applies if no other taxable services are provided. Co-owners each receiving less than Rs. 8,00,000 would also not be liable for service tax.