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Ankita Agarwal
Hello. Wanted a clearer picture on the various Taxes & Rates Applicable (apart from income tax), for a registered Paying Guest on a commercial property.
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Central Taxes: Income Tax & Service Tax
State Taxes: Municipal Taxes (Commercial Tax), In some states you need to have commercial water and power connections.
Income tax depends on your legal entity status e.g. Sole proprietor, Pvt ltd company, Partnership etc.
Service tax: It depends on the way you are charging rent. If it is only rent then service tax is applicable - if per day rent is more than rs 1000, otherwise exempt
If it is a case of bundled service where you are providing food and accommodation, then you have to bifurcate the charges and pay service tax on food as catering services if your total revenue from catering is more than 10 lakhs per year.
Could you kindly share the link (if any) for more detailed information on the same. Thank You.
CA Akash Agarwal 3 Jan 2017There is no link, Its on the basis of my understanding of Tax laws, In case you want understand further you can book an appointment with me on this website.
AnkitaAgarwal 27 Jan 2017Sure. Meanwhile, could you kindly elaborate in detail on the service tax / gst for the same. Thanks in Advance.
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Harsha Harsha
What is the meaning of dwelling house in service tax,mega exemptions and what is it"s treatment ?
Dwelling house is any residential accommodation but does not include hotel, motel, inn, guest house, camp site, lodge, house boat or like places meant for temporary stay
Renting out will be a case of bundled service and need to see the nature of transaction to decide the tax ability
The treatment depends upon the nature of the transaction, If any activity which is commercial is involved it will attract service tax, even if it is rented out for a small period of time
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Hemachandra Reddy
Iam looking for project report to submit in my bank for rs 3 crores
We can help you if you are in Mumbai contact 9224145115
CA Akash Agarwal 30 Dec 2016We can help you with your requirement, Location is not important, Contact me @ 8820563615
CA Abhishek Sinha 30 Dec 2016We specialise in project report work, please send in your requirement to sinha.todi@gmail.com
CA Nikhar Kesarwani 5 Jan 2017We Can help.. Please contact 9028469810
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Abdul Wahid A
Hello everyone.
I'm B.com graduate ,
i wanted to do Icwa , and then CA.
but have doubts about it .
is convocation certificate is important to do,
I have marks memorandum, and TC etc, apart from Convocation certificate , .
please guide me .
and where i shall have register for ca etc
Dear Abdul
If you want to do CA you can register with your nearest ICAI institute and start the course.
As far as i understand there is no requirement of Convocation certificate, you can take registration on the basis of your marks sheet.
You can also pursue ICWA and CA together, there is no restriction and most of the course material is same
best of luck
R
Rohit Kumar
What is the due date for filing ITR return for Individual for year ending on 31'st March 2016
Hi Rohit,
Considering your legal status as Individual: Due date for filing Income tax return was 31'st July 2016. However you can still file your belated tax returns by 31'st March 2017.
You may have to pay interest on taxes for the period 1'st August to 31'st March 2017, but yes you can still file your returns by this year end
CA Vishal Chandel 23 Jan 201731st July 2016 for Original Return, But you Can file Belated Return Upto 31st March 2018.
Rohit Kumar 27 Jun 2017Thanks for your replies
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