CA Dheeraj Bansal (Chartered Accountant) (652 Points)
18 June 2018My client is a real estate broker, he is getting brokerage for selling a muliplex mall. the commission he is going to get is rs. 5 crores. what is taxability under income tax. and what kind of expediture he can claim relating to this income. and what is taxabilitt under gst
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(160690 Points)
Replied 19 June 2018
Taxable under head 'PGBP'
Accounts need to be audited u/s. 44AB
All the expenses related to the commisssion business (to earn the income) are deductible.
GST registration mandatory. GST payable @ 18% on commission amount.
CA S Praveen Kumar Reddy
(Chartered Accountant)
(2195 Points)
Replied 19 June 2018
CAclubindia
