When a person is receiving commission income for introducing clients to a bank. Does that receipt attracts service tax?
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Does commission received from bank attracts service tax?
Replies (2)
If your receipt are more then 10 lac then u should charge service tax
Take service tax registration when the commission receipts crosses Rs. 9 Lacs. Start collecting and paying service tax when the commission crosses Rs. 10 Lacs. If the aggregate value of taxable service provided in the preceding financial year exceeded Rs. 10 Lacs, then threshold exemption of Rs. 10 Lacs is not available.
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