Register Price / Packages DEMO Option My Bookmarks Daily Newsletters Feedback/ Suggestions
Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding


Case Laws Acts Notifications Circulars Classification Forms Manuals Articles News D. Forum Highlights Notes
TMI - e-Newsletter     TaxTMI    Violation of principles of natural justice -...     TaxTMI    Quantification of pre-deposit of 20% before filing...     TaxTMI    Validity of action taken by the GST officers in...     TaxTMI    LTCG - deduction u/s 54F - Ownership of more than...     TaxTMI    Deductions u/s 80IC - audit report in Form 10 CCB,...     TaxTMI    Levy of penalty - The appellant was accused of...     TaxTMI    Seeking grant of bail - Evasion of GST - The High...     TaxTMI    Territorial Jurisdiction - seeking transfer of...     TaxTMI    Eligibility for Composition scheme - ice-cream -...     TaxTMI    Jurisdiction - power to adjudicate SCN - The High...     TaxTMI    Characterization of receipt - amount received by...     TaxTMI    Validity of assessment order - SCN as also the...     TaxTMI    Seeking reimbursement of GST amount paid by the...     TaxTMI    Condonation of delay in filing an appeal before the...     TaxTMI    Valuation of imported goods - inclusion of royalty...     TaxTMI    Latest Case-Laws     TaxTMI    Latest Notifications + Circulars     TaxTMI    GST Council Decisions     TaxTMI       Right Stop
  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram
GST - Highlights / Catch Notes

Home Highlights January 2021 Year 2021 This

Valuation of Rental Income - GST - Deduction of property taxes ...

GST

January 15, 2021

Valuation of Rental Income - GST - Deduction of property taxes and other statutory levies - treatment of notional interest on the security deposit - All taxes levied under any law in force are to be included in the value of the renting of immovable property service supplied by the Appellant. Therefore, the property tax paid to the Municipal Authority (BBMP) cannot be deducted from the monthly rental income for arriving at the value of supply. - However, for the purpose of arriving at the total rental income, the notional interest earned on the security deposit is not to be taken into consideration. - AAAR

View Source

 

← Previous Next →

 

You may also like:

  1. Renting of Immovable Property Service - notional interest accruing on the lumpsum amounts received - There is no justification for inclusion of the notional interest in...

  2. Renting of immovable property service - Valuation of rental income - The applicant can’t deduct the property taxes and other statutory levies for the purpose of arriving...

  3. Renting of Immovable Property Service - there was no reason to add notional interest in the monthly rent for the purpose of assessment of service tax

  4. Classification of product - rate of tax - Energy-G premium oil - Correct HSN Code of "Energy-G premium Oil" is HSN 1518

  5. Levy of Entertainment tax - Valuation - consideration towards the services excluding the service tax component or on both - No proof is available on records to show that...

  6. Demand of Service Tax - notional interest towards security deposit taken by the appellant against the rental property - service tax could not have been levied on the...

  7. Taxability - Renting of immovable property service - vacant land - the levy of tax on the rental income derived by the appellant from the lessee is beyond the scope of...

  8. Renting of immovable property - lease agreement - levy of service tax on amounts collected by way of premium and rental - developing certain town - prima facie lease...

  9. Abatement of value of material - N/N. 12/2003-ST dated 20th June 2003 - discharge of VAT liability would preclude the levy of service tax on the value of those goods

  10. Refund of excess paid service tax - The rejection of refund claim only on the ground that the issue of Service Tax liability on notional interest is pending is not...

 

Quick Updates:Latest Updates

F: Notification No. 3/2023 - Compensation Cess (Rate) dt. 26.07.2023-Is i...
H: Levy of late fee u/s 234E for the delay in filing E-TDS return - the A...
H: Delay in filling appeal before the Tribunal - appeal is time-barred by...
F: Input Tax Credit
H: Levy of penalty u/s 270A - Excess exemption claimed on Gratuity u/s 10...
H: Territorial jurisdiction of Court - Confiscation of gold - levy of pen...
H: Summons issued to attend the office of the DRI - seeking permission fo...
A: The onus is entirely on the Revenue to establish existence of PE every year
A: Know the Contrasts between PF and ESIC
A: RECENT SUPREME COURT JUDGMENTS ON ARBITRATION
A: If tax liability including interest has been paid subsequently SCN can...
F: Man power supply to Poultry Farm - Taxable or exempt
F: Section 16(4)
F: iterest liability
H: Absolute Confiscation of gold recovered during the course of search - ...
H: Town Seizure - Absolute confiscation of gold - imposition of penalties...
H: Classification of imported goods - amino acid powder - whey protein po...
H: Multiple assessments in the same Bills of Entry - Finalization of prov...
H: Valuation of imported goods - Ethylene Vinyl Acetate [EVA] - The appel...
H: Revocation of Customs Broker License - The Tribunal examined each char...
H: Valuation of imported goods - addition of franchise fee and internatio...
H: Money Laundering - Compliance of summons issued by the petitioner, ED ...
H: Seeking grant of anticipatory bail - Money Laundering - twin condition...
H: Money Laundering - Proceeds of crime - attachment of moveable property...
A: REJECTION OF APPLICATION FOR INSOLVENCY RESOLUTION PROCESS OF PERSONAL...
A: Right to personal hearing and Right to object the SCN cannot be compro...
N: Foreign Exchange Management (Non-debt Instruments) (Third Amendment) R...
N: Amendment in Notification No. CCT/26-2/2018-19/64/1825 dated the 25th ...
A: Optimizing Efficiency: The Crucial Role of Integrating Inventory Accou...
A: REPAYMENT PLAN IN INSOLVENCY RESOLUTION PROCESS OF PERSONAL GUARANTORS...