13 Sep Broker Agreement India
In these areas, it is important to understand the requirements and laws surrounding Finder`s Fees. Consider consulting an expert if you work in one of these specialized sectors. In fact, I wanted to know about the income tax on the intermediation of real estate agents/brokers, assuming that an agent sold a property from XYZ.owner for 2 crore and he orally agreed with the owner for 1% commission as a real estate agent, so how will the owner pay the brokerage?will he deduct TDS.and then pay by check to the real estate agent? And what is the percentage of TDS.to to be deducted from the broker`s amount? Is it refundable?and what percentage or percentage of income tax must be paid on the amount collected according to TDS. The trigger? Please tell me. 6. The owner pays the broker the commission of 2% of the consideration to be paid at the time of execution of the deed of transfer of the property. One should be very careful when ordering an agent or using the services of a brokerage company to buy/sell real estate. The background of the broker or business they represent should be thoroughly reviewed to avoid unnecessary legal problems. There are not many brokers in business who operate in an organized manner as desired to ensure the security and transparency of the transaction when selling and buying real estate….