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Threshhold limit of Rs.8,00,000/- applicability on renting of immovable property., Service Tax |
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Threshhold limit of Rs.8,00,000/- applicability on renting of immovable property. |
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Whether threshhold limit of Rs.8,00,000/- is applicable to renting of immovable property.
Posts / Replies Showing Replies 1 to 2 of 2 Records Page: 1
Renting of Immovable Property is proposed to be taxed. Notification No. 06/2005 exempts taxable services of aggregate value not exceeding four lakh rupees in any financial year. Now the limit of four lakh is substituted to Eight lakh vide Notification 04/2007 dated 1st March, 2007. This threshold limit is for all services covered under service tax act for a financial year. Renting of Immovable properties for commercial purpose shall also be governed by above notification.
yes certainly. the value would be calcuated from the date of notficiation. If notified in May then april rent would also not be a subject matter fo ST
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