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service tax applicability on property taken by company for accomodation to its employees

Service Tax - Started By: - shiva kumar - Dated:- 21-12-2015 Last Replied Date:- 21-12-2015 - Fact: Mr A, director is giving residential property to Co. on rent of ₹ 24 Lacs p.a. The rent paid by Co. is considered as business expenses for which deduction is taken in Income tax. On the other hand Co. has provided the same property to director as rent free accommodation. As we know the renting of residential property for residence purpose is under negative list in service tax. In the above c .....

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ccommodation which has impact on business. thus it is for business purpose. Hence service tax applicable. and if provision is plainly read I.e. renting of immovable property for residential purpose is exempt from service tax. Both possibility is presented here which will help you to take suitable call. - Reply By Rajagopalan Ranganathan - The Reply = Sir,It depends on the conditions stipulated in the rental agreement entered into between the Company and Mr.A. If the agreement says that it rented .....

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