Tax consequances
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
27 November 2014
One land was sold to corporate body.This land hold By Partnership Firm & Individual which is Partner this Firm.so I could know all the relevant section in Income tax as well as other relevant in other Act & also weather Service tax Charge on whole Consideration of only part of in name of Partnership firm. Early reply if possible & thanks in advance
27 November 2014
no service tax is applicable in this case and both the seller needs to pay capital gain tax
Rupesh Jain
(Expert)
27 November 2014
only you have to pay capital gains under income tax act. no service tax required.
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