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
- GSTR-1A How to update Invoice
- Excess salary payment.
- Stamp Paper for partnership firm change new income tax 2025
- TDS on Purchase of Immovable Property by NRI from NRI
- INTEREST APPLICABLE ON ITC REVERSAL PORTION
- Current Account Opening for Sole Proprietorship with Udyam Certificate - Zero Turnover
- Capital gain from sale of house property
- FORM 26A APPLICABILITY
- When TDS on GST applied
- Before GSTAT- APL-02 Vs APL-04
- Cash gift by grand mother to her grand daughter
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
- No Compliences after incorporation
- USEFUL LIFE OF USED/SECOND HAND COMMERCIAL VEHICLES
- Claiming TDS deducted by builder on Hardship compensation and Corpus
- Address Change to another state of a Registered Trust with 12AB approval
- Updated return in budget 2026
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
