Mukul Gupta, Apartment Resident
Posted Discussions
Posted Replies

Service Tax on Lease Rent
Q: Do lease rent on buying new flat attracts Service tax. If yes what is the applicable rate of Service Tax.

Latest Answer: Hi, Mukul, as per my knowledge,if you are leasing your property for residential use, you need not have to pay the service tax. However, there are certain rules regarding the matter. For example if your total income from the rental property in a year crosses Rs.10 lakh, you have to charge and pay service tax on the rental income charged.

Service tax rate on parking as on 25 June 2012.
Q: bought a flat in May 2012 and paid money in June 2012, where they have shown Rs. 200,000.00 only as car parking space. At the time of payment they did not charge any service tax, but now they are asking 12.36% service tax on the parking slot. is it legal or illegal? Mukul

Latest Answer: Hi, Mr Gutpa, according to my knowledge, the service tax would be 12.36% of the 25% of the sales value or 3.09% of the sale value.

Ask a Question
120 Characters Left





    Trending Categories

    CommonFloor Property Search Mobile App now available on Android, iOS and Windows!