Brokerage paid for sale of apartment
This query is : Resolved
09 June 2018
Can I pay brokerage of 1.5 L to an individual by cash?
Is any TDS applicable? What are the implications of not doing TDS if it's mandatory?
Is any TDS applicable? What are the implications of not doing TDS if it's mandatory?
09 June 2018
You can't pay brokerage exceeding 10,000 in cash. TDS applicable non deduction of TDS 30% of expenditure will be disallowed.
TDS not applicable if you are an individual not covered under tax audit.
TDS not applicable if you are an individual not covered under tax audit.
09 June 2018
I am an individual selling my apt calculating long-term capital gain. Not sure sure what u mean by coming under tax audit. Thought payments above 2L by cash is an issue.
09 June 2018
Dear Sunil,
As an individual who is not running any business, you can pay expenses in cash upto 2 lakhs but you need to ensure one thing - that the broker is giving you a proper invoice. Otherwise, you won't be able to claim any deduction while computing capital gains.
As an individual who is not running any business, you can pay expenses in cash upto 2 lakhs but you need to ensure one thing - that the broker is giving you a proper invoice. Otherwise, you won't be able to claim any deduction while computing capital gains.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Refund Annexure-B
- Liable to deduct tds and 44ADA
- Sale of Equity shares for Purchase of Residential Property
- Nomination of Bank for refund in itr 2
- Section 56(2) of the Income tax Act 1961 , Gift to relative .
- ECO SUPPLY REPORTIONG IN GSTR-1
- Is Interest applicable for payment made through credit ledger vide DRC03 for FY 2020-21 & 2021-22
- CCFS 2026 Schemed
- Subscription paid to foreign customer
- Two seprate Invoice needed
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
