Urgent -- please answer with case reference

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

26 July 2011 HELLO ALL,

LAST YEAR I BOOKED A FLAT THROUGH A BROKER FOR RS 50 LAC. AS PER THE AGREEMENT WITH BROKER AND ME, BROKER WILL SHARE HIS COMMISSION ( WHICH BROKER WILL RECEIVE FROM BUILDER FOR HELPING IN BOOKING A FLAT ) LATER.

THIS YEAR BROKER PAID MY SHARE OF COMMISSION ie Rs 40000 AFTER DEDUCTING TDS U/S 194H.

NOW MY QUERY IS ...WHAT IS THE STATUS OF THAT RS 40000 AMOUNT IN MY HAND.
WHETHER IT SHOULD BE ADJUSTED WITH THE COST OF FLAT AND TDS TO BE CLAIMED BY ME.
OR
THAT RS 40000 IS MY INCOME.

C A S.S.Agarwal, M.Com.,LL.B,

C A S.S.Agarwal, M.Com.,LL.B, (Expert)
Follow

26 July 2011 The commission is not given by the builder which reduces the cost of the flat. It is given by the broker so it is a taxable income in your hand and to be shown under the head Income from Other sources. Adjust the TDS against the Tax liability.

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

Summarize this with AI

ChatGPT Perplexity Claude Google AI Grok

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

THUSHAR MURALI KRISHNA

rana andcompany

Vinod Patil

CA jignesh daiya

Pritanu Chakraborty

Subscribe Now

Urgent -- please answer with case reference

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

CA Final

Manager- Finance and Compliance

GST CONSULTANCY

Accountant

GST CONSULTANT

Article Assistant