tag:blogger.com,1999:blog-3202774368551476669.post8493003953147217715..comments2023-09-15T16:21:31.980+05:30Comments on INDIAN CORPORATE LAW: Service Tax on Renting Immovable PropertyUmakanth Varottilhttp://www.blogger.com/profile/12438677982004444359noreply@blogger.comBlogger1125tag:blogger.com,1999:blog-3202774368551476669.post-83987399365174819472009-10-14T00:16:41.924+05:302009-10-14T00:16:41.924+05:30the question before the delhi high court which it ...the question before the delhi high court which it wanted to answer, was to find whether parliament has intended to levy service tax on renting of immovable property itself.<br /><br />i think the answer to the affirmative is pretty clear in para 153 of the budget speeches.<br /><br />the words p.chidambaram uses, shows clearly that he intends to levy service tax on renting of property itself. <br /><br />therefore such detailed discussion to find the parliaments intention was not necessary.<br /><br />however if the Delhi High Court had intended to invalidate sec 65(105)(zzzz), then the question as to whether it has any value addition has fruit.<br /><br />para 153-<br /><br />"While I bid goodbye to 200,000 assessees, I welcome the new assessees who will be brought into the fold. I propose to extend service tax to:<br /><br />• Services outsourced for mining of mineral, oil or gas;<br /><br />• Renting of immovable property for use in commerce or business; however, residential properties, vacant land used for agriculture and similar purposes, land for sports, entertainment and parking purposes, and immovable property for educational or religious purposes will be excluded;<br /><br />• Development and supply of content for use in telecom and advertising purposes;<br /><br />• Asset management services provided by individuals; and<br /><br />• Design services."Niranjan Rajagopalanhttps://www.blogger.com/profile/06439793225348948084noreply@blogger.com