Tax Consultancy

  Rent services are categories in two part A. Commercial Property B. Residential Property.   A.   Commercial Property: - The services provided through renting or leasing of the commercial property is covered under the entry no 16 of Notification No 11/2017 –Central Tax (Rate) dated 28 th Jun 2017. The related portion of the notification entry is as follows :-   16 Heading 9972   (i) Services by the Central Government, State Government, Union territory or local authority to governmental authority or government entity, by way of lease of land.          Nil   (ii) Supply of land or undivided share of land by way of lease or sub lease where such supply is a part of composite supply of construction of flats, etc. specified in the entry in column (3), against serial number 3, at item [(i), (ia), (ib), (ic), (id), (ie) and (if)]66. Provided that...

  PROFESSION TAX ACT, 1975 — MAHARASHTRA I. PURPOSE AND SCOPE The Maharashtra State Tax on Professions, Trades, Callings and Employments Act, 1975 (Profession Tax Act) applies to whole of State of Maharashtra and has come into operation from 1-4-1975. The Tax is levied and collected subject to the provisions of Article 276 of the Constitution of India for the benefit of the State.  II.   LEVY OF TAX-ENROLLED PERSONS [PTEC] Every Person including LLP registered under the LLP Act, 2008, excluding Partnership Firm whether registered or not under Indian Partnership Act, 1932 and HUF, engaged actively or otherwise in any profession, trade, calling or employment and covered by Schedule I appended to the Profession Tax Act, 1975 (given separately herein below) is liable to pay Tax at the rate mentioned against each entry in Schedule I. The Tax payable by one person will not exceed Rs.2,500/- for one year. In the case of person liable to enroll but remained un-enrolled, the liabi...