How much percent of commission allowed in land sale ?

ITR 1560 views 7 replies

I Paid 2.1 Lakh Commission  in cheque for Land sale

Total Capital Gain was 10.9 Lakh 

Sale Value was 11.9 Lakh 

 

2.1 Lakh is not an issue for that is there any percentage limit in  expenditure incurred wholly and exclusively Column ?

And commission expenses will be in expenditure incurred wholly Column Right ?


 

 

Replies (7)
generally from the income tax point of view, only,1-2% is allowed as commission
Yes... I agreed to Mr Rama Krishnan Sir.

.

But There is no demand I had to pay huge Brokerarge 

as per the prevailing commission rates, the percentage is 1-2% only...
Originally posted by : rama krishnan
as per the prevailing commission rates, the percentage is 1-2% only...

Brokerarge and commission is same thing  ? 

for brokers you pay commission.. it can be called as brokerage or commission


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