SERVIE TAX ON RENTING OF IMMOVEABLE PROPERTY

[rohit rao]

DEAR SIR,

WHAT WILL BE THE RATIO OF SERVICE TAX IF WE RENT OUR IMMOVABLE PROPERTY TO OTHER. IF WE ARE BILLING TO THE PARTY CHARGING THEM 12.36% OF ST ON THE RENT.

IF THERE ANY % RATIO ON RENT OF IMMOVABLE PROPERTY KINDLY LET US KNOW

 

ROHIT R RAO

 

AI Summary

Service Tax on Renting Immovable Property Set at 12.36%; Queries on Tax Credit Addressed A query was raised regarding the service tax applicable when renting out immovable property, specifically questioning the percentage rate if billing at 12.36% on the rent. One response clarified that the tax rate is indeed 12.36% on the gross amount after deducting property taxes. Another participant inquired about the possibility of taking service tax credit on the renting of immovable property.