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FAQ: Is service tax payable on a leased property? - Property Hotline
Posted
June 16, 2016
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June 16, 2016
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3:27Now PlayingBe Un Confused
Expert: Samir Kanabar, Partner, Ernst & Young
Q: If I take a property from a developer on a 99 year lease, will I be required to pay service tax?
Answer: If a general rule is considered, Tax other than stamp duty is not applicable on the property when transfer of title takes place. The motive of the property plays an important role as if the property is for a residential use, there is no service tax but if it is for a commercial purpose, tax is applicable. In your case, as the property is residential, no service tax will be applied.
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