Query,
Having Accounting / Tax Consulting Income of Rs. 6 Lakhs and Income from General Insurance Commission of Rs. 5 Lakhs. Whether Registration is required under Service Tax ?
Please reply asap.
Regards.
Manan (student) (69 Points)
17 February 2013Query,
Having Accounting / Tax Consulting Income of Rs. 6 Lakhs and Income from General Insurance Commission of Rs. 5 Lakhs. Whether Registration is required under Service Tax ?
Please reply asap.
Regards.
Jayam Ramesh K C
(Group Chiefr Accountant)
(99 Points)
Replied 17 February 2013
The Registration under Service Tax is required only if the Consulting Income is above RS 10 .00 Lacs. In such case the sevice provider 100% service tax on the client to whom he provides the service.The Commission though it is Income will not be added to your Service and the Insurance Co will be charging the Service Tax when you receive it.
(Jayam Ramesh K C)
CA Sanjay Bag
(CHARTERED ACCOUNTANT)
(3340 Points)
Replied 18 February 2013
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