HEAD OF INCOME UNDER WHICH THE SAME IS TAXABLE
Querist :
Anonymous
(Querist) 17 November 2010
This query is : Resolved
Dear Sir
Would like to know Hoarding Rent is liable for payment of service tax under the category of “Space Selling Services”. Will co-operative society have to be registered with the service tax department or is it exempt. Secondly whether the Co-operative society has to collect the service tax and pay the same by the 5th of the next month or would the advertiser would be liable to pay the same. As the advertiser in this case is the service provider to his clients and the society has just allotted the space, but collecting rent. Kindly also clarify under what head of income would the hoarding rent received by the Co-operative society be taxed.
Awaiting your reply in the matter and thanking you in advance
soumitra basu
(Expert) 18 November 2010
The society is not liable for paying service tax. If the rent is more than 1000000 per annum then the society has to be liable under rent of immovable property.
