Share in profit paid
This query is : Resolved
06 August 2021
A person dealing in F&O subscribes and pays 30% profit earned in F&O to the person giving the service. Can this amount be deducted as expense along with brokerage expense. What is the impact with respect to TDS. Can it be considered a oral partnership unregistered and hence what is the impact both on direct tax and indirect tax. Kindly guide
06 August 2021
This amount can be deducted as expense along with brokerage expense.
TDS applicable in tax audit cases.
It can't be considered as partnership.
GST applicable on person providing services is registered under GST.
TDS applicable in tax audit cases.
It can't be considered as partnership.
GST applicable on person providing services is registered under GST.
07 August 2021
Thank you sir for your answer.
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