INCOME TAX
This query is : Resolved
bishan singh negi
(Querist)
19 December 2010
MR. MY ONE OF FRIEND IS RECEIVED COMMISSION OR BROKAGE WORTH RS 12 LAC. DURING THE A/Y 2009-10. AND HE IS FILED HIS I.T. RETURN U/S 44AF BY DECLARING 20% INCOME.
MY QUERRY IS WHETHER HE IS ELIGIBLE TO FILE RETURN U/S SECTION 44AF.
HE IS NOT PAID ANY SERVICE TAX
HIS CASE IS IN SECURITINY WHAT IS THE BEST WHY TO TACKE THIS CASE.
THANKS IN ADVANCE
MR. MY ONE OF FRIEND IS RECEIVED COMMISSION OR BROKAGE WORTH RS 12 LAC. DURING THE A/Y 2009-10. AND HE IS FILED HIS I.T. RETURN U/S 44AF BY DECLARING 20% INCOME.
MY QUERRY IS WHETHER HE IS ELIGIBLE TO FILE RETURN U/S SECTION 44AF.
HE IS NOT PAID ANY SERVICE TAX
HIS CASE IS IN SECURITINY WHAT IS THE BEST WHY TO TACKE THIS CASE.
THANKS IN ADVANCE
19 December 2010
Sec 44AF is applicable in case of aseessee engaged in retial trade. You have not mentioned the details of Commission. I think Sec 44AF will not apply in this case.
Service tax applies on service provider. you are service reciver , hence it will not apply.
Service tax applies on service provider. you are service reciver , hence it will not apply.
CA. R. B. SAH
(Expert)
19 December 2010
your friend is liable to service tax because comission or brokerage is received by your friend for services provided by your friend.
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