MR. X AN INDIVIDUAL ISOWNER OF LAND PRIOR TO 1/4/1981 . THE LAND IS ENCROACHED BY SLUMS AND MR X DOES NOT HAVE ALL THE DOCUMENTS IN ORDER. MR X APPOINTS MR Y AS THE PERSON TO ARRANGE THE LAND DOCUMENTS FROM THE CONCERNED AUTHORITIES AND ALSO ARRANGE BUYERS FOR THE SAID LAND FOR WHICH MR.Y HAS ASKED FOR A PERCENTAGE OF THE SALE CONSIDERATION OF THE LAND.
1. THE AMOUNT PAID BY MR X TO MR Y IS IT AN EXPENSE ON TRANSFER WITH REFERENCE TO LONG TERM CAPITAL GAINS?
2. IS THE AMOUNT PD FOR VALUATION ASON 1/4/1981 ALSO TAKEN IN COST OF ACQUISTION OR EXPENSE ON TRANSFER
3. UNDER WHAT HEAD THE AMOUNT PAID BY MR. X TO MR. Y BE SHOWN S BROKERAGE , LEGAL FEES CONSULTANCY AND WHAT ARE THE IMPLICATION ON TDS UNDER INCOME TAX AND SERVICE TAX IMPLICATIONS?
1. THE AMOUNT PAID BY MR X TO MR Y IS IT AN EXPENSE ON TRANSFER WITH REFERENCE TO LONG TERM CAPITAL GAINS?
2. IS THE AMOUNT PD FOR VALUATION ASON 1/4/1981 ALSO TAKEN IN COST OF ACQUISTION OR EXPENSE ON TRANSFER
3. UNDER WHAT HEAD THE AMOUNT PAID BY MR. X TO MR. Y BE SHOWN S BROKERAGE , LEGAL FEES CONSULTANCY AND WHAT ARE THE IMPLICATION ON TDS UNDER INCOME TAX AND SERVICE TAX IMPLICATIONS?