Lic commission and other professional receipts
This query is : Resolved
24 January 2014
I am a professional having receipts of Rs. 8Lacs. suppose I got a commission income from LIC of Rs. 2.5Lacs(The LIC as per me and read articles is to charge and deposit the service tax on commisssion paid to agents)so do I have to charge the service tax on my other professional receipts as well.
Also if the total quantum is Less than Rs. 9 Lacs even then due to LIC charging and depositing service tax do I have to charge Service tax on my other professional receipts.
Also if the total quantum is Less than Rs. 9 Lacs even then due to LIC charging and depositing service tax do I have to charge Service tax on my other professional receipts.
24 January 2014
Yes If as a individual your total receipts are more than 10 L you will have to charge ST on your total receipts post crossing 10L limits
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