Easy Office
LCI Learning

Aplicbility of s.tax on busines sale/purchase of vacant plot

This query is : Resolved 
Profile Image

Profile Image

(Querist)
21 November 2013 If an assessee is doing the business of buying and selling vacant plots, will service tax provisions be applicable?
Profile Image

CA PARAS BAFNA

Profile Image

CA PARAS BAFNA (Expert)
21 November 2013 Buying and selling activity of vacant plot of land does not attract service tax.
Profile Image

Ajay Mishra

Profile Image

Ajay Mishra (Expert)
21 November 2013 I think it will be covered under Real Estate Agents.
Upgrade to CAclubindia Pro. Subscribe Now!

Profile Image

Sushant Mahajan

Profile Image

Sushant Mahajan (Querist)
21 November 2013 Ajay Sir, the assessee buys plots in its own name and then sells it.....he is not acting as a mediator in the sale.
Profile Image

Sushant Mahajan

Profile Image

Sushant Mahajan (Querist)
21 November 2013 Thank You Paras Sir
Profile Image

Ajay Mishra

Profile Image

Ajay Mishra (Expert)
21 November 2013 If it is not his regular business, so he is not liable to pay service tax.
Profile Image

Sushant Mahajan

Profile Image

Sushant Mahajan (Querist)
21 November 2013 Ajay Sir, it is his regular business and he keeps plots as stock in trade in his books. The income is shown in the head Business
Profile Image

Ajay Mishra

Profile Image

Ajay Mishra (Expert)
21 November 2013 Doesn't matter, property is owned by his name. So not liable.
Upgrade to CAclubindia Pro. Subscribe Now!


You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

CAclubindia's WhatsApp Groups Link


Similar Resolved Queries


loading


Unanswered Queries


CCI Pro
Live Budget News and Updates

Trending Online Classes

view all classess


Answer Query



Quick Links