Service tax
dinesh kumar
(Querist) 14 June 2017
This query is : Resolved
I HAVE TWO COMMERCIAL PROPERTIES IN MY NAME i.e ONE office space & ONE SHOP.ONE PROPERTY GAINS MORE THAN 15 LAC AS RENT WHERE, I AM PAYINY MY SERVICE TAX WITH INCOME TAX AT HIGHER LEVEL.MY SHOP CAN AVIL 15000/=P.M AS RENT.I DONT WANT TO PAY HIGHER TAX & INCLUDE IT TO SERVICE TAX (DUE TO TENANT DONT WANT TO PAY SERVICE TAX ON 15000/=).THATS WHY MY SHOP IS VACATE FOR A LONG TIME.I HAVE A HUF ACCOUNT WHERE THERE IS NO INCOME. CAN I TR. THIS PROPERTY TO HUF FOR MINIMISE MY TAX & SERVICE TAX LIABILITY.WHAT SHOULD I DO TO MINIMISE MY TAX & SERVICE TAX LIABILITIES IN THIS SITUATION .PL.SUGGEST.
Hemant Agarwal
(Expert) 15 June 2017
1. IF you are from Maharashtra, THEN transfer property via a Gift Deed to your Wife, Children, HUF, to claim the mentioned benefit.
Keep Smiling .... Hemant Agarwal
VISIT: http://www.maharashtra-society-help-forum.com
Kumar Doab
(Expert) 15 June 2017
Mr. Hemant Agarwal has given you the perspective.
Rajendra K Goyal
(Expert) 15 June 2017
Discuss in detail with local tax consultant.
