- Hello,
- In my registered agreement builder of project writes" The purchaser/s agree/s to pay to the developers the said consideration of Rs. 80,70,155 in the following manner:- Rs. 10,08737 as earnest money deposit paid on or before the execution of these presents, 1) Rs. 70,61418 being balance of purchase price to be paid by the purchaser in the manner of installments. In this case do I have to pay service tax on " EARNEST MONEY DEPOSIT"?
Menu
Can ST charged on "earnest money deposit" paid to builder
Replies (3)
Whether earnest money is a part of consideration and whether it is refundable or not
The earnest money deposit is not refundable.
Yes, service tax is payable on whole consideration of Rs. 80 lakh, earnest money is part of consideration as u have mentioned the payment process.Thus, earnest money received is taxable.
Recent Threads
- Is MirrorFly an Instant Messaging Software?
- ITR filling for legal heir
- How Can I qualify CA Final Exam?
- Wrong reporting on 22 april 2026 under article inc
- Articeship Form 107
- TAN for Multiple States
- Delivery Challan serial number Issue and return ru
- After filing form 71 For TDS mismatch
- UNCLAIMED TDS REFUND QUERY
- Rcm payable which head
Related Threads
CAclubindia
