https://www.taxtmi.com/article/detailed?id=5190 Service tax on the renting of immovable property is treated as a Declared Service under the post July 2012 Negative List regime and is taxable except for specific exemptions (vacant agricultural land, residential units used as residence, government/RBI/educational/religious lettings and similar categories). Residential use for commercial activity and temporary social event lettings are taxable. Valuation is on the gross amount charged, with property tax paid deductible, maintenance charges includible, electricity paid on actual basis excluded, and interest or penalty payments not deductible; excess property tax may be adjusted within one year. en-us Fri, 12 Jul 2013 07:37:21 +0530 Fri, 12 Jul 2013 07:37:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=5190 Service tax on the renting of immovable property is treated as a Declared Service under the post July 2012 Negative List regime and is taxable except for specific exemptions (vacant agricultural land, residential units used as residence, government/RBI/educational/religious lettings and similar categories). Residential use for commercial activity and temporary social event lettings are taxable. Valuation is on the gross amount charged, with property tax paid deductible, maintenance charges includible, electricity paid on actual basis excluded, and interest or penalty payments not deductible; excess property tax may be adjusted within one year. Articles Service Tax Fri, 12 Jul 2013 07:37:21 +0530 https://www.taxtmi.com/article/detailed?id=5190