TMI BlogApplicability of Service tax on Renting of Immovable propertyX X X X Extracts X X X X X X X X Extracts X X X X ..... Dear Sirs, Renting of Immovable property - Based on the judgement of Delhi high court, Kindly provide the present status on the applicability of Service tax on the same. If applicable can i take the exemption of Rs. 8 lacks for calculating the service tax amount during a financial year. - Reply By rishi mohan - The Reply = Respected sir, the exemption limit in service tax has been exceeded to " ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ten lakh" from "eight lakh" since 1st April, 2008 as per notification no.8/2008 of Service Tax.In the said notification, for the words "eight lakh rupees", wherever they occur, the words "ten lakh rupees" shall be substituted. In case of renting of immovable property the case is still pending with the supreme court. But as per Delhi high court service tax is further not applicable on renting of i ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... mmovable property.We shall wait for the decision from the supreme court, but presently renting of immovable property is totally exempted from service tax. - Reply By Vijay Chitte - The Reply = There is no any ammendmend in present taxable services. Delhih HC judgement is still pending in the SC. Being safer side, charge the service tax on renting of immovable property, otherwise, in future, if the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Supreme court judgment overuled the Delhi HC hudgment, you have to pay serice tax along with applicable interest also. At present exemption limit is 10 lacks. - Reply By MOHAN S - The Reply = Dear Friends The Delhi High Court has categorically held that no coercive steps should be taken and no letters demanding Service tax on Renting of Immovable property be issued by the Department as Hon.Supr ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... eme Court has not granted stay of the Delhi High Court Judgement on this issue. The learned Additional Solicitor General appearing for the Baord (CBEC), assured that corrective steps shall be taken by issuing further instructions, in supersession of earlier instructions, to the officers not to write such letters demanding the payment of service tax or threatening coercive steps. - Reply By Rama ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Krishana - The Reply = Now, after reading the proposal made through Finance Bill 2010, the renting of immovable property is liable to service tax with retrospective effect and the decision of Delhi High court overruled through the amendment. - Applicability of Service tax on Renting of Immovable property - Query Started By: - chaganti srinivas Dated:- 18-2-2010 Service Tax - Got 4 Replies - Serv ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ice Tax - Discussion Forum - Knowledge Sharing, reply post by an expert, personal opinion Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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