Rent Invoice Format with Service Tax {2017}

Description

For house owners, collecting rent timely matters, therefore rent invoice is prepared in excel tool with service tax and it is available in bill format. According to specific region, there are specific terms regarding, service tax 2017, which are required to be taken by service provider. It is fundamental for immovable properties, therefore as a tenant and house, owner you must be aware of the type of service taken and is service tax is applicable for that service or not.

The rent invoice format required the inclusion of both the landlord’s and tenant’s information. The landlord’s details comprised their name, address, contact number, and tax registration number. Similarly, the tenant’s information, including their name, address, and contact details, was also stated in the invoice.

To accurately reflect the transaction, the rent invoice had to contain specific details. It mentioned the period for which the rent was being charged, including the start and end dates. Additionally, the invoice stated the monthly rent amount and the total rent for the specified period.

Rent Invoice Format with Service Tax Features

Now create professional bills for your tenants through getting this template. Here are some features of it:

Collect service tax for the expenses where it is actually applicable.

• Security or deposit amount paid by tenant before moving in is not subjected to service tax as this amount is returnable.
• According to some rental agreements, tenants are required to pay for repair and maintenance charges towards building, therefore this amount includes service tax.
• Electricity bills are paid by tenants mostly and this amount is subject to service tax, however this is not taken by owner.

Now easily maintain records for residential or commercial rented out place.

• If you offered any plot for rent, this includes service tax however in some cases it is not required.
• Easily and accurately maintain your records for residential or commercial places.
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The format also incorporated service tax details. The service tax percentage applicable at that time was included, along with the taxable amount. This amount was calculated by subtracting any deductions or exemptions from the total rent. The service tax amount was then computed by multiplying the taxable amount by the service tax percentage.

Finally, the rent invoice format displayed the grand total, which included the total rent amount and the service tax. It concluded with the payment terms and conditions, such as the due date and acceptable modes of payment.

More about the Template

Settings

Here you are required to manually add details like type of rented out property as well as time interval. It is usually in half an hour interval, as rented out property is charged on bases of time.

Client Data

Now easily maintain your client data through this template. This specific part shows client information as well as details of the rented out property to him. Apart of this sheet must be filled manually and the rest is done itself. Add your client id, client name, and date and rental type. Rent per hour as well as time in and time out must be mentioned to calculate total rent amount payable.

Printable Rent Receipt

It is generated on behalf of previous spreadsheet, which is client database. 3 copies are available, make recording easy by providing one to your client, and keep one with you and one for the account department. It shows date, client id, and period from to period to, therefore the time, for which rent is charged. Total amount and received by is also mentioned on the invoice.

It is important to note that the specific rent invoice format with service tax may have varied based on the jurisdiction and prevailing tax regulations in 2017. It was crucial for landlords and tenants to adhere to these requirements to ensure compliance with the applicable laws and regulations.

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