Feedback   New User   Login      
Tax Management India. Com TMI - Tax Management India. Com
Acts / Rules Notifications Circulars Tariff/ ITC HSN Forms Case Laws Manuals Short Notes Articles SMS News Highlights
        Home        
Extracts
Home List
← Previous Next →

Partnership or renting service

Service Tax - Started By: - S.C. WADHWA - Dated:- 29-6-2015 Last Replied Date:- 2-7-2015 - We have received rent from one of our building from the year 2007 to March 2015 on monthly basis as per agreement. 1) Fixed rent 2) variable rent of 5% of sale .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

nt i.e 1) Fixed rent 2) Variable rent @5% of Gross sale value per month. From April we are getting 40% of gross sale value. No fixed rent fill be received in future. No minimum guarantee of value. Now my query is whether we drafted a partnership deed .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

HWA - Reply By CA Sumit Aggarwal - The Reply = Dear Mr. Wadhwa,From your aforementioned query, I am of the view that earlier you were getting the rent from the Tenant and thereafter the 40% of sale value is also shared by the same Tenant.In this rega .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

e same shall be treated as service amount and shall be taxable under 'Renting of Immovable Property'. Even ST authority will presume the activity is service.Further, as per the Section 67 of the Finance Act, 1994, service tax chargeable on an .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

 

 

 

 

 

Discussion Forum
what is new what is new
 


Share:            

|| Home || About us || Feedback || Contact us || Disclaimer || Terms of Use || Privacy Policy || TMI Database || Members ||

© Taxmanagementindia.com [A unit of MS Knowledge Processing Pvt. Ltd.] All rights reserved.

Go to Mobile Version