ICICI

Service tax on construction services


CA Rajdeepsinh Kanchava (Senior accountant at KPO)     11 March 2013

CA Rajdeepsinh Kanchava
Senior accountant at KPO 
 58 likes  736 points

| My Other Post

Hello There!

Greetings of the day to all the CCI Members.

If a Contractor Receives the Consideration for the Construction Service Provided by him in the form of Fixed Deposite (Before the issuance of Completion Certificate ) then would this FD amount be taxable or the Interest only be Taxable or both??????

Thanks in Advance.

Regards Rajdeep.

avater

Vikas (CA)     11 March 2013

Vikas
CA 
 123 likes  1130 points

View Profile | My Other Post

A similar example has been provided in the Education Guide issued as on 20/06/2012.

According to me, the amount charged would be the FD amount as it is the consideration transferred from transferee and not the interest.

Refer, Sec.67 of the Act.

1 Like

Leave a reply

Your are not logged in . Please login to post replies

Click here to Login / Register  



Popular Discussion


view more »