Gross receipt for realestate agents,when they are taking big plot of lands through agreement & registering it directly in the name of purchaser by dividing it into small plots.
Clarification on gross receipts
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Gross receipts inclusion for real estate agents: receipts from purchasers of subdivided plots regarded as agent gross receipts.
Whether gross receipts of real estate agents include all amounts received from purchasers when an agent acquires a large plot, subdivides it into small plots and registers those plots directly in the purchasers' names; the forum records a clarification request and an affirmative reply that such receipts include all moneys received from purchasers. (AI Summary)
Whether gross receipts of real estate agents include all amounts received from purchasers when an agent acquires a large plot, subdivides it into small plots and registers those plots directly in the purchasers' names; the forum records a clarification request and an affirmative reply that such receipts include all moneys received from purchasers. (AI Summary)
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