To work and earn profit for the investors in stock market
This query is : Resolved
30 July 2015
Dear friends
There is a business deal between my client and another investor that my client should earn considerable return in stock market e.g 4% pm. It should be shared between them 2.5:1.5.
Query:
1. Is it a taxable service?
2. Any abatement thereon?
3. what is the heads of income under income tax for my client?
4. my clients are 2 persons i.e can the service tax be obtained in 2 persons name joinly since MOU stands with 2 persons on one part.
There is a business deal between my client and another investor that my client should earn considerable return in stock market e.g 4% pm. It should be shared between them 2.5:1.5.
Query:
1. Is it a taxable service?
2. Any abatement thereon?
3. what is the heads of income under income tax for my client?
4. my clients are 2 persons i.e can the service tax be obtained in 2 persons name joinly since MOU stands with 2 persons on one part.
30 July 2015
1 It is not a taxable service it is only a business deal.
2 No abatement.
3 It is a business income.
4 Service tax applicable on brokerage commission.
2 No abatement.
3 It is a business income.
4 Service tax applicable on brokerage commission.
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