How are commission agents taxed under the Finance Act?

(iv) undertakes any activities relating to such sale or purchase of such goods or services.” The services rendered by Commission Agents were taxable under the Head “Business Auxiliary Services” under clause Section 65 (105) (zzb) of the Finance Act, 1994, w.e.f. 01.07

How much Commission do you get from a broker?

If in a particular month you make a total brokerage of Rs. 2,00,000/- and your sharing with your main broker is 50 : 50, then you will get commission of Rs. 1,00,000/- You will raise to your broker the following bill. This Rs. 18,000/- you will have to deposit to the government account.

What happens if you ask for commission from insurance agent?

If you force for sharing his/her commission, then you may end of in losing the relation with your agent. Also, if you ask to share his commission with you, then there is a probability of mis-selling to earn more commission. Hence, at the end, you may buy the product which you actually not required.

Is a sub broker liable to pay service tax?

Earlier, under the service tax law sub brokers not liable to pay service tax as liability of sub broker was discharged by main broker. They were not liable to get registered.

Who are auto brokers and what do they do?

Car Broker/Auto Broker: May work for dealers, buyers or a combination of the two Can be a small company, an independent agent or a large, Internet-based service Often staffed by former car dealers or dealership managers who understand all the ins and outs of how dealers make money

Do you get a flat fee with an auto broker?

Many auto broker companies offer leasing services for a flat fee to help you feel confident that you are getting the best price possible on your new car lease. Some leasing agents receive kickbacks from the dealership.

How long does it take to buy a car from a broker?

Most buyers spend at least half a day on the car lot, haggling over the automobile they want. First, you haggle with the salesperson, and then, once you have worked the price down to perhaps $500 above invoice, you move on to the finance and insurance office.

Do you have to pay extra for used car broker?

Dealerships often charge extra for these services or claim that the automobile you want is impossible to find in the color or specifications you have in mind, simply because they don’t carry it themselves. Used cars: Used car brokering is less known than new car buying services, but it can be even more useful.