TMI BlogRenting of Immovable PropertyX X X X Extracts X X X X X X X X Extracts X X X X ..... vers land, buildings and land appurtenant to the building. According to General Clause Act, 1897 - immovable property shall include land, benefits to arise out land and things attached to the earth or permanently fastened to anything attached to the earth. Analysis: The word rent is defined in Black s Law dictionary as periodical payment for use of another s property . In this service only renting of immovable property is covered. The definition of renting covers all types of renting of immovable property. Along with renting, it covers letting, leasing, licensing and any other similar arrangements of immovable property. As per this service, use of immovable property has no relevance i.e. the service tax is payable even if ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... r without a structure incidental to its use, relating to agriculture renting of residential dwelling for use as residence renting out of any property by the Reserve Bank of India renting out of any property by a Government or a local authority to a non-business entity. Renting of all other immovable properties would be taxable unless covered by an exemption. 6.1.2 Are there any exemptions in respect of renting of immovable property? Yes. These are:- Threshold level exemption up to ₹ 10 lakh. Renting of precincts of a religious place meant for general public. Renting of a hotel, inn, guest house, club, campsite or other commercial places meant for residential or lodging purposes, havi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... covered in the definition of renting. 5 Renting of land or building for entertainment or sports Chargeable to service tax as there is no specific exemption. 6 Renting of theatres by owner to films distributors(including under a profit-sharing arrangement) Chargeable to service tax as the arrangement amounts to renting of immovable property. 6.1.5 Whether hotels/restaurants/convention centres letting out their halls, rooms etc. for social, official or business or cultural functions fall within the scope of this declared list service? Halls, rooms etc. let out by hotels/restaurants for a consideration for orga ..... X X X X Extracts X X X X X X X X Extracts X X X X
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