Dear Sir,
Kindly clarify my queries. Am the channel partner of mulitple banks and promoting all kinds of loans. I source the clients and get loan through banks/nbfcs.
End of each month banks will be paying me the commission / payouts for the business done deducting 10% tds in my current account.
I hold a proprietor current account and have service tax number.
This year from apr to till date my commission has crossed more than 10L. Do i have to pay the service tax?
Anyway i will be paying the income tax filing at end of year at 30% slab. but still i have to pay the service tax? Kindly clarify.
I have service tax number in my firm name and in that taxable services mentioned as Business Auxiliary Services.
Regards.
CAclubindia
