SERVICE TAX RENTING OF IMMOVEABLE PROPERTY PROVISIONS
What is the meaning of ‘immoveable property’?
‘Immoveable property’ has not been defined in the Act. Therefore, the definition of ‘immoveable property as given in clause (26) of the General Clauses Act, 1897 has to be taken as per which “immovable property” shall include land, benefits to arise out of land, and things attached to the earth, or permanently fastened to anything attached to the earth.
Covered in declared services :In the definition of ‘service’ contained in clause (44) of section 65B of the Act it has also been stated that service includes a declared service. The phrase ‘declared service’ is also defined in the said section as an activity carried out by a person for another for consideration and specified in section 66E of the Act. The following nine activities have been specified in section 66E:
1. renting of immovable property;
2. construction ............"
Renting of Immovable Property
Renting has been defined in section 65B as ‘‘allowing, permitting or granting access, entry,occupation, usage or any such facility, wholly or partly, in an immovable property, with or without the transfer of possession or control of the said immovable property and includes letting, leasing, licensing or other similar arrangements in respect of immovable property’
Is renting of all kinds of immovable properties taxable?
No. Renting of certain kinds of immovable properties is specified in the negative list. These are –
renting of vacant land, with or without a structure incidental to its use, relating to agriculture.
renting of residential dwelling for use as residence
renting out of any property by the Reserve Bank of India
renting out of any property by a Government or a local authority to a non-business entity.
Renting of all other immovable properties would be taxable unless covered by an exemption as given below.
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Are there any exemptions in respect of renting of immovable property?
Yes. These are:–
Threshold level exemption up to Rs. 10 lakh.
Renting of precincts of a religious place meant for general public.
Renting of a hotel, inn, guest house, club, campsite or other commercial places meant for residential or lodging purposes, having declared tariff of a room below rupees one thousand per day or equivalent.
Renting to an exempt educational institution
Friday 7 December 2012
Saturday 10 November 2012
Wednesday 31 October 2012
services tax in india
Negative List of Services and codes for deposit of tax
The table below shows the category of services which are taxable with the date of introduction of such service. The table also shows the ‘accounting heads’ for each category service The Accounting Heads need to be mentioned on the tax payment documents GAR-7 Challan while depositing the Service Tax and other related dues in the banks.
Main Head : 00441089
Education Cess : 04400298
Secondary & Higher Edu Cess : 04400426
Interest : 00441090
Penalty : 00441093
Negative List of Services.
Follwing Service are out of Preview of Service Tax
(a) Services by Government or a local authority excluding the following services to the extent they are not covered elsewhere:
(i) services by the Department of Posts by way of speed post, express parcel post, life insurance, and agency services provided to a person other than Government;
(ii) services in relation to an aircraft or a vessel, inside or outside the precincts of a port or an airport;
(iii) transport of goods or passengers; or
(iv) support services, other than services covered under clauses (i) to (iii) above, provided to business entities.
(b) Services by the Reserve bank of India.
(c) Services by a foreign diplomatic mission located in India.
(d) Services relating to agriculture or agricultural produce by way of –
(i) agricultural operations directly related to production of any agricultural produce including cultivation, harvesting, threshing, plant protection or seed testing;
(ii) supply of farm labour;
(iii) processes carried out at an agricultural farm including tending, pruning, cutting, harvesting, drying, cleaning, trimming, sun drying, fumigating, curing, sorting, grading, cooling or bulk packaging and such like operations which do not alter essential characteristics of agricultural produce but make it only marketable for the primary market;
(iv) renting or leasing of agro machinery or vacant land with or without a structure incidental to its use;
(v) loading, unloading, packing, storage or warehousing of agricultural produce; (vi) agricultural extension services;
(vii) services by any Agricultural Produce Marketing Committee or Board or services provided by a commission agent for sale or purchase of agricultural produce.
(e) Trading of goods.
(f) Any process amounting to manufacture or production of goods.
(g) Selling of space or time slots for advertisements other than advertisements broadcast by radio or television.
(h) Service by way of access to a road or a bridge on payment of toll charges.
(i) Betting, gambling or lottery.
(j) Admission to entertainment events or access to amusement facilities.
(k) Transmission or distribution of electricity by an electricity transmission or distribution utility.
(l) Services by way of –
(i) pre-school education and education up to higher secondary school or equivalent; (ii) education as a part of a curriculum for obtaining a qualification recognized by law; (iii) education as a part of an approved vocational education course.
(m) Services by way of renting of residential dwelling for use as residence; (n) Services by way of –
(i) extending deposits, loans or advances in so far as the consideration is represented by way of interest or discount;
(ii) inter-se sale or purchase of foreign currency amongst banks or authorized dealers of foreign exchange or amongst banks and such dealers;
(o) Service of transportation of passengers, with or without accompanied belongings, by – (i) a stage carriage;
(ii) railways in a class other than – (A) first class; or
(B) an air conditioned coach; (iii) metro, monorail or tramway; (iv) inland waterways;
(v) public transport, other than predominantly for tourism purpose, in a vessel between places located in India; and
(vi) metered cabs, radio taxis or auto rickshaws; (p) Services by way of transportation of goods –
(i) by road except the services of –
(A) a goods transportation agency; or
(B) a courier agency;
(ii) by an aircraft or a vessel from a place outside India up to the customs station of clearance in India; or
(iii) by inland waterways;
(q) Funeral, burial, crematorium or mortuary services including transportation of the deceased.
The table below shows the category of services which are taxable with the date of introduction of such service. The table also shows the ‘accounting heads’ for each category service The Accounting Heads need to be mentioned on the tax payment documents GAR-7 Challan while depositing the Service Tax and other related dues in the banks.
Main Head : 00441089
Education Cess : 04400298
Secondary & Higher Edu Cess : 04400426
Interest : 00441090
Penalty : 00441093
Negative List of Services.
Follwing Service are out of Preview of Service Tax
(a) Services by Government or a local authority excluding the following services to the extent they are not covered elsewhere:
(i) services by the Department of Posts by way of speed post, express parcel post, life insurance, and agency services provided to a person other than Government;
(ii) services in relation to an aircraft or a vessel, inside or outside the precincts of a port or an airport;
(iii) transport of goods or passengers; or
(iv) support services, other than services covered under clauses (i) to (iii) above, provided to business entities.
(b) Services by the Reserve bank of India.
(c) Services by a foreign diplomatic mission located in India.
(d) Services relating to agriculture or agricultural produce by way of –
(i) agricultural operations directly related to production of any agricultural produce including cultivation, harvesting, threshing, plant protection or seed testing;
(ii) supply of farm labour;
(iii) processes carried out at an agricultural farm including tending, pruning, cutting, harvesting, drying, cleaning, trimming, sun drying, fumigating, curing, sorting, grading, cooling or bulk packaging and such like operations which do not alter essential characteristics of agricultural produce but make it only marketable for the primary market;
(iv) renting or leasing of agro machinery or vacant land with or without a structure incidental to its use;
(v) loading, unloading, packing, storage or warehousing of agricultural produce; (vi) agricultural extension services;
(vii) services by any Agricultural Produce Marketing Committee or Board or services provided by a commission agent for sale or purchase of agricultural produce.
(e) Trading of goods.
(f) Any process amounting to manufacture or production of goods.
(g) Selling of space or time slots for advertisements other than advertisements broadcast by radio or television.
(h) Service by way of access to a road or a bridge on payment of toll charges.
(i) Betting, gambling or lottery.
(j) Admission to entertainment events or access to amusement facilities.
(k) Transmission or distribution of electricity by an electricity transmission or distribution utility.
(l) Services by way of –
(i) pre-school education and education up to higher secondary school or equivalent; (ii) education as a part of a curriculum for obtaining a qualification recognized by law; (iii) education as a part of an approved vocational education course.
(m) Services by way of renting of residential dwelling for use as residence; (n) Services by way of –
(i) extending deposits, loans or advances in so far as the consideration is represented by way of interest or discount;
(ii) inter-se sale or purchase of foreign currency amongst banks or authorized dealers of foreign exchange or amongst banks and such dealers;
(o) Service of transportation of passengers, with or without accompanied belongings, by – (i) a stage carriage;
(ii) railways in a class other than – (A) first class; or
(B) an air conditioned coach; (iii) metro, monorail or tramway; (iv) inland waterways;
(v) public transport, other than predominantly for tourism purpose, in a vessel between places located in India; and
(vi) metered cabs, radio taxis or auto rickshaws; (p) Services by way of transportation of goods –
(i) by road except the services of –
(A) a goods transportation agency; or
(B) a courier agency;
(ii) by an aircraft or a vessel from a place outside India up to the customs station of clearance in India; or
(iii) by inland waterways;
(q) Funeral, burial, crematorium or mortuary services including transportation of the deceased.
Wednesday 24 October 2012
Car Detailing Services
Car Detailing Services
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Treatments that protect and ensure that the beauty and excitement of your car exteriors last longer, without any periodic attention.
Underbody
Keep your car protected.
Prevent the harmful effects of rust with unique treatments formulated to keep your car's underbody safe and intact.
Engine Performance
Keep your Car rejuvenated.
The engine rejuvenation treatment restores power, performance, fuel economy and efficiency by removing carbon deposits from intake valves, combustion chambers and fuel injectors.
3M Car Detailing offers a complete range of internationally proven treatments applied by qualified 3M- Trained professionals. Approved and recommended by major car manufacturers, these are designed to help you maintain your car in pristine condition at all times, irrespective of its age and condition.
Exteriors
Keep your car looking as good as new.
Treatments that protect and ensure that the beauty and excitement of your car exteriors last longer, without any periodic attention.
Underbody
Keep your car protected.
Prevent the harmful effects of rust with unique treatments formulated to keep your car's underbody safe and intact.
Engine Performance
Keep your Car rejuvenated.
The engine rejuvenation treatment restores power, performance, fuel economy and efficiency by removing carbon deposits from intake valves, combustion chambers and fuel injectors.
Tuesday 23 October 2012
dealers in Gurgaon
APRA AUTO (INDIA) PVT. LTD | |
Pacific Square, Opp. Galaxy Hotel, Sectore-15, | |
APRA AUTO (INDIA) PVT. LTD (Mehrauli) |
|
Jmd Regent Plaza,Mehrauli - Gurgaon Road, | |
COMPETENT AUTOMOBILES CO. LTD (Infocity) |
|
A-25, Infocity, Sector-34, | |
COMPETENT AUTOMOBILES CO. LTD (Sohna Road) |
|
Omaxe Plaza, Sohna Road | |
PASCO AUTOMOBILES |
|
Pasco House6 Palam-Gurgaon Road, Industrial Estate, | |
VIPUL MOTORS LTD |
|
504,Udyog Vihar Phase Iii,Dundahera |
Monday 22 October 2012
Car Loan Interest Rates
Car Loan Interest Rates Banks/Rates |
New Car Loan (Reducing) | Used Car Loan (Reducing) | Processing Fee | Apply |
HDFC Bank | 11.50% - 12.25% | 15.25% - 17.75% | ||
(From 49 - 60 months), | (60 months), | |||
11.50% - 12.25% | 15.25% - 17.75% | |||
(From 36 - 48 months), | (48 months), | Rs 2325/- to Rs. 4275/- | ||
11.25% - 12.00% | 15.25% - 17.75% | |||
(Upto 36 months) | (36 months), | For Corporates | ||
15.75% - 18.25% | Rs.1500 | |||
Corporate Rates | (24 months), | |||
10.50% to 12.50% | 15.75% - 18.25% | |||
(From 36 - 60 months) | (Upto 12 months) | |||
Corporate Rates | ||||
13.50% - 14.25% | ||||
State Bank of India (SBI) | 10.75% | 17.25% ( Upto 36 Months) | ||
17.50% ( Above 36 months) | 0.5% of loan Amount | |||
Bank Of Baroda | 13.25% | N.A | 0.75% (Upto 15Lacs), Max Rs.10000 | |
0.5% (Above 15 Lacs), Min Rs.10000, No Maximum Limit | ||||
Canara Bank | 12.50% (Fixed) | N.A. | 0.1% of loan Amount (Minimum Rs. 250 ,Maximum Rs.500) | |
Corporation Bank | 12% - 12.50% | |||
11.35% - 11.70% | ||||
(for SRTOs | ||||
Covered under CGTMSE) | N.A. | 0.5% of loan Amount | ||
Kotak Mahindra | 11.50% - 13.50% | 17% - 20% | Rs.3300/- to Rs.4750/- | |
Axis Bank | 11.50% - 14.50% | 16.50% - 18% | Rs.3000/- to Rs.3500/- | |
ICICI Bank | 11.50% - 14.75% | |||
(From 36 - 60 months), | 16.50% - 18.50% | Rs.2500/- to Rs.5000/- | ||
13.75% - 16% | ||||
(From 24 - 35 months), | ||||
15.75% - 17% | ||||
(Upto 23 months) | ||||
Bank Of India | 12.50% - 13.50% | 13.50% - 14% | a) Loans upto Rs.25,000/- - one time Rs.1,000/- | |
b) Loans above Rs.25,000/- upto Rs.25 lacs - one time 1.10% of loan amount - Min.Rs.1,500/- & Max. Rs.5,000/- | ||||
c) Loans above Rs.25 lacs - one time 0.25% of the loan amount Max.15,000/- | ||||
Federal Bank | 11.70% to 12.20% | |||
(upto & including 36 months) | ||||
12.20% to 12.70% | ||||
( Above 36 months to 60 months) | 15.70% - 16.20% | Rs1685/- to Rs 2808/- |
Friday 19 October 2012
Car Loan Interest Rates
Thursday 18 October 2012
car rental
Cheap car rental booking
Cheap car rental is not difficult to find. Booking vacation or business car rental in advance is recommended if you are traveling to a foreign country, but many people fail to do so and trust airport car hire firms to give them the car they need. They might get a car, but perhaps not the car rental they need! Booking in advance is preferred, but how do you do so in foreign countries?
Cheap car rental is not difficult to find. Booking vacation or business car rental in advance is recommended if you are traveling to a foreign country, but many people fail to do so and trust airport car hire firms to give them the car they need. They might get a car, but perhaps not the car rental they need! Booking in advance is preferred, but how do you do so in foreign countries?
Wednesday 17 October 2012
Car Rental in delhi
Welcome to Car Rental in delhi
Sunday 14 October 2012
Car Rental Services in Delhi
We intend to make your journey pleasurable, safe and very convenient and our car rental services exemplify our belief. Our cars are:
New Delhi Honda City Luxury Booking Options :-
From
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To | Car Type | Usage | Duration | Price | Options |
New Delhi | Noida | Honda City Luxury | One Way Trip | 1 Day | 692 | Contact Now |
New Delhi | Noida | Honda City Luxury | Round Trip | 1 Day | 716 | Contact Now |
New Delhi | Noida | Honda City Luxury | One Way Trip | 1 Day | 799 | Contact Now |
New Delhi | Noida | Honda City Luxury | Round Trip | 1 Day | 815 | Contact Now |
New Delhi | - | Honda City Luxury | Half Day | - | 937 | Contact Now |
New Delhi | - | Honda City Luxury | Half Day | - | 991 | Contact Now |
New Delhi | - | Honda City Luxury | Half Day | - | 1047 | Contact Now |
New Delhi | - | Honda City Luxury | Half Day | - | 1157 | Contact Now |
New Delhi | - | Honda City Luxury | Half Day | - | 1188 | Contact Now |
Friday 12 October 2012
Rental Services in Gurgaon
Rental Services in Gurgaon
Are you searching for ready-to-go office space? Then here some best option for you that your querry will be solved.
Rental Services
We welcome the great peosonalities of companies to have your own office at gurgaon to carry out your activities . We ready to provide all support and help as your own office to assist you to reach your clients in gurgaon. The service will give you ready market and as well as access to the economic capital of our country. It definitely save your time, man power and money in hiring us.
You can search here for office rent these are some best sites:-
Propertyoncall.in
Classicinfoways.in
Getmecab.com
Entechdesigns.com
Grandcircuit.Co.in
Sulekha.com
Are you searching for ready-to-go office space? Then here some best option for you that your querry will be solved.
Rental Services
We welcome the great peosonalities of companies to have your own office at gurgaon to carry out your activities . We ready to provide all support and help as your own office to assist you to reach your clients in gurgaon. The service will give you ready market and as well as access to the economic capital of our country. It definitely save your time, man power and money in hiring us.
You can search here for office rent these are some best sites:-
Propertyoncall.in
Classicinfoways.in
Getmecab.com
Entechdesigns.com
Grandcircuit.Co.in
Sulekha.com
Thursday 11 October 2012
RENTAL SERVICES IN GURGAON
HOME RENTAL SERVICES:-
Are You a Renter?
Every month we help dozens of families find homes to rent. The process is easy and mostly done online. Let us help you find your perfect home!
Personal Agent Assigned to You
Largest Selection of Homes
Quick Online Application and Processing
Most Houses are Pet Friendly
Are You an Owner?
We are the most experienced and award winning residential property management company in Kansas City. Let us lease your home for you!
Doing Business Since 1989
Managing Hundreds of Homes
RENTAL SERVICES
Are You a Renter?
Every month we help dozens of families find homes to rent. The process is easy and mostly done online. Let us help you find your perfect home!
Personal Agent Assigned to You
Largest Selection of Homes
Quick Online Application and Processing
Most Houses are Pet Friendly
Are You an Owner?
We are the most experienced and award winning residential property management company in Kansas City. Let us lease your home for you!
Doing Business Since 1989
Managing Hundreds of Homes
RENTAL SERVICES
Welcome to gurgaon rental services it is the best way to find
rental services in gurgaon. there is many companies available in gurgaon that
provide good services and the best choise for contractors, builders,
landscapers, homeowners, and special event professionals.
The Best Rental service in gurgaon
The Best Rental service in gurgaon
Gurgaonrentservice
Rents4sure
Indiahousing
Carrentaldelhi
Newdelhidi
Indiarentalservices
Rentechdesigns
Gurgaonrentservice
Rents4sure
Indiahousing
Carrentaldelhi
Newdelhidi
Indiarentalservices
Rentechdesigns
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