Four individual who have jointly held NA Land. Now they want to plan to construction on that. So that they have created partnership firm, now land is on partners name and firm is constructing the Flats and bungalows.
Can firm on behalf of partners receive Advance money on its name for flats and bungalows?
Now whether Work contract service (effective rate 5.60%) is applicable or construction of residential house service (effective rate 3.50%) ?
Is there any other way to reduce the service tax liabilities by tax planning ?
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