Service tax

balwinder (Querist) 16 August 2013 This query is : Resolved
sir i have given a property on lease to public sector banks and private limited companies for the last few years .however now my gross rental receipts exceed rupees ten lacs.so now i am under service tax bracket.somy questions are
1. legally should i recover service tax from the tenants including publis sector banks by raising invoice in their favour and whether banks are liable to pay service tax on rental income or not
2. can i claim some kind of deductions(maintenance of property etc) on my rental income to reduce my net rental income to avoid service tax bracket
or please advise how i can escape from service tax bracket lawfully

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