https://www.taxtmi.com/article/detailed?id=6408 Service tax is leviable only on the rent component of a lease-payments made for continuous enjoyment of immovable property-while upfront lease premium (salami) paid for transfer of an interest is capital in nature and not consideration for renting. Security deposits and notional interest on them are not includable in the taxable value absent statutory provision or evidence that they influenced the rent; valuation additions of arbitrary notional interest are unsustainable. The taxable value is therefore the rent agreed between the parties. en-us Wed, 26 Aug 2015 10:09:07 +0530 Wed, 26 Aug 2015 10:09:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=6408 Service tax is leviable only on the rent component of a lease-payments made for continuous enjoyment of immovable property-while upfront lease premium (salami) paid for transfer of an interest is capital in nature and not consideration for renting. Security deposits and notional interest on them are not includable in the taxable value absent statutory provision or evidence that they influenced the rent; valuation additions of arbitrary notional interest are unsustainable. The taxable value is therefore the rent agreed between the parties. Articles Service Tax Wed, 26 Aug 2015 10:09:07 +0530 https://www.taxtmi.com/article/detailed?id=6408