25 October 2016
Sir, a person named "A" is a intermediary of utility bill payment business. he recieves Rs 60 lakh(approx.) from many customers in cash during the year and deposit that amount in its current bank account and then pay bills online and amount is paid from his current account. During the year he earn commission of rs.60000 during the year. according to me he has to pay income tax on rs 60000 as he earn commission income. and service tax not apply as he provide service of rs 60000 only because service tax threshold limit for mandatory registration is 9 lac.
CAclubindia
