My client is engaged in letting out of commercial properties. At the same time shares were managed by Asset Management Company(outsider). Can ITC on Management fees paid be availed against output on rent?????
Please suggest.
Menu
INPUT FROM ASSET MANAGEMENT FIRM
Replies (5)
Quick Summary
You can avail ITC If services you are taking is in furtherance of business. If you are taking services for furtherance of your business, you can avail ITC
Anup sir, actually these are two different activities of the company. definitely it is for furtherance of business but the GST auditor is not accepting. Please share your opinion.
What service is being provided by the third party service provider?
Third party provided Portfolio management services. In other words sale of shares and mutual funds.
Company availed their services for profit maximisation and the sale proceeds were invested further in commercial properties or FDR.
So your client is providing services of letting out commercial property,
and through profit in shares your client acquire that commercial properties.
Portfolio is in the name of your clients business?
and through profit in shares your client acquire that commercial properties.
Portfolio is in the name of your clients business?
Recent Topics :
- How Do CA Firms Manage Client Document Collection
- How do CA firms manage pending client documents du
- How to find a good CA
- Rcm on rent paid
- Clarify on GST Application
- Residential status for overseas students visitin
- Capital Gains Tax
- LTCG 112A and business loss
- FAST-DS 2026 applicability: foreign employee share
- NRI Property Sale in India: TDS Rates and Key Comp
Related Topics :
CAclubindia
