Legal Question in Business Law in India
I and my wife jointly receive commercial rent Rs.16 lacs annually. Will we have to pay service tax or it will be exempted as threshold limit is 10 lacs per person?
Asked on 10/09/10, 8:54 pm
2 Answers from Attorneys
Vishwa Arya
Arya & Co.
the best bet was to receive the rent by way of two cheques of 50:50 every month. There are conflicting judgments on this. some states have come up with intrepretation that rent received jointly; the coowner not withdrawing ever; share merged with the other; jointly pay the ST. the cases where one coowner immediately withdrew share and put it in other account was exempt from ST. Ofcourse, your impression that you do not need to pay ST is bonafide. If you could switch over to two cheques per month, that is safe
Answered on 10/09/10, 9:56 pm
RAJIV GUPTA
(Cell: +91 9811284735) [email protected]
the tax would be paid upon 16 lacs only.
Answered on 10/10/10, 12:03 pm
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