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Taxability under income tax and gst of real estate broker

Others 543 views 3 replies

My client is a real estate broker, he is getting brokerage for selling a muliplex mall. the commission he is going to get is rs. 5 crores. what is taxability under income tax. and what kind of expediture he can claim relating to this income. and what is taxabilitt under gst

Replies (3)

Taxable under head 'PGBP'

Accounts need to be audited u/s. 44AB

All the expenses related to the commisssion business (to earn the income) are deductible.

GST registration mandatory. GST payable @ 18% on commission amount.

Follow Rambia sir
Good answer by Mr Dhirajlal sir.


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