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
- Itr 1 processing
- Off Market debit and credit transaction
- Showing Gift from relative in ITR for this year
- INCOME TAX ON REDEVELOPEMENT OF FLAT
- ITR selection for salaries and capital gain less than L
- Share accounting-->fifo - capital gain - period as per fifo?
- Short Term Capital gain on shares bought and sold after 2018 onwards
- ITR returnFY25-26
- ITR 2 Short Term gain & Long term gain
- Form 10E u/s 89(1). Need clarification because experts opinions differ !!!!
- Reporting Income under Section 44ADA
- ITR 1: Details for showing Exempt Income
- Gst invoice numbering and delivery challan numbering
- Sales amount in Gstr1
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
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
