Service tax on brokerage on mou pf selling property
This query is : Resolved
08 November 2014
We are a real estate firm who sell flats in residential complex. We have signed a MOU with a marketing pvt. ltd. firm. for example we are selling flats at 2000 rs./sq.ft. and we alloted them the same @ 1700 Rs./ sq.ft. it means this 300rs. is commision/brokerage. so now what are the responsibilities of service tax to that pvt. ltd. company and how we should treat it in our books . and what about the TDS....??
08 November 2014
Dear Nihkhi,
In your case are you going to sale to that marketing pvt ltd co. then in that case sales will be effected so no service tax and tds,
but if you appoint them as your agent then service tax will be applicable once you crossed threshold limit of Rs. 10lacs and tds on payment of rs.5000 and above u/s 94H
CA Chirag Doshi & CO.
9833027231
In your case are you going to sale to that marketing pvt ltd co. then in that case sales will be effected so no service tax and tds,
but if you appoint them as your agent then service tax will be applicable once you crossed threshold limit of Rs. 10lacs and tds on payment of rs.5000 and above u/s 94H
CA Chirag Doshi & CO.
9833027231
Message likes :
1 times
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
- CLOSING STOCK QUERY
- Exiting partner in partnership firm in gst portal
- IT returns for fresh job holders
- F&O reporting in ITR
- Can a single LLP in India legally operate multiple unrelated businesses (Travel, Cloud Kitchen, Ecom
- Loss of interest in PF transfer from EPFO to Trust
- Short Term Gain Reporting ITR
- Gst on travel by air for business purposes
- Taxability of credit in canara bank ET & T section (NRO)
- ITR-3 File/Error Found
- DUE DATE FOR ITR FILING
- Concept of Vendor and customner reconciliation
- Mistake in e-invoice identified after 24 hours
- EXPORT PAYMENT
- NRI ITR2 account in 2025-26.
- Query regarding reporting of exempt foreign remuneration in ITR (AY 2026-27)
- FEMA/RBI treatment — Amazon.ca arbitrage (US buy, Canada sell, goods never enter India)
- Goods return by customer
- INWARD REMITTANCE FOREIGN
- CPC and SAC
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
