Rea estate broking tds

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Querist : Anonymous

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Querist : Anonymous (Querist)
10 October 2013 Hello to all. i am a real estate broker and had a query regarding service tax. say for eg., i earn 15 lacks a year. Thus , a service tax of 10.3% would be levied on Rs. 15L on me, say aaprx. 1.5L. Thus, i receive 13.5L as income. now, i pay income tax on the 13.5L, say 30% = 4.05L. Thus, the net amount in my hands is 9.45L. Thus a tatal tax of 1.5 + 4.05L = 5.55L. Is this how it works or do i get a rebate for paying service tax.
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Nikhil Kaushik

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Nikhil Kaushik (Expert)
10 October 2013 what about your expenses? u don't claim any expense against your income?
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Nikhil Kaushik

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Nikhil Kaushik (Expert)
10 October 2013 What about expenses? you don't incur any expenses?
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Querist : Anonymous

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Querist : Anonymous (Querist)
10 October 2013 ofourse i will. but my primary question is do i end up paying both the taxes wholly or do i get any rebate?
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Nikhil Kaushik

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Nikhil Kaushik (Expert)
10 October 2013 yes. you will have to. But you should sit with a professional consultant for tax planning.
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