Should I register with IT Department? How do I pay this Service TAx? Is there a separate Service TAx Number? Which department issues this? Is this Service TAx applicable to individuals like me or only to companies who lease out to properties to other companies?
2007-03-02 22:33:01 · 2 answers · asked by Anonymous in Business & Finance ➔ Taxes ➔ India
Relax.The service tax on renting of commercial property will come into force after President of India puts his rubber stamp on the Finance Bill when it is enacted as Finance Act.
Further, even otherwise if the rent is below 8 Lakh Per Annum ; you will be exempt from service tax and if it is above 8 Lakh ; you will be liable to pay service tax after crossing 8 lakh and will be required to get registered with Service Tax Department(better known as Central Excise) after crossing 7 lakh.
2007-03-03 06:00:24 · answer #1 · answered by Anonymous · 0⤊ 0⤋
Contact your nearby Sales Tax office for details. There many who file returns of sales tax and service tax. you can contact them
2007-03-02 22:53:26 · answer #2 · answered by Raki 2 · 0⤊ 0⤋