Commission on purchase of self property

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NITIN KUMAR (Querist)
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23 July 2011 Dear Experts,

A person has booked property in a Real Estate company through Agent. Real Estate company pays commission to Agent on that property. Agent pass on part of his commission back to person who booked the property. Agent also deduct TDS on that commission. Whether commission would be taxable income or it will be considered as capital receipt and will be less in the cost of purchase price of property ? Please refer relevant sections or notifications also.

Thanks in advance.

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
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23 July 2011 My view this said income is need to be treated as "Income from Other Sources" and taxable.

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Commission on purchase of self property

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