Easy Office

Lottery business

This query is : Resolved 
Profile Image

Profile Image

(Querist)
27 September 2016 Journal entries for Jewelry given to winner in a lucky draw.also for commission given to reference made by people who are in networking. and heir treatment in Balance sheet if any
Profile Image

Amol S Joglekar

Profile Image

Amol S Joglekar (Expert)
27 September 2016 debit prize
credit bank/cash as the case may be
(Being jewellery given as prize)

debit commission
credit bank/cash as the case may be
(Being referral commission paid)
Profile Image

Chandan Arora

Profile Image

Chandan Arora (Querist)
27 September 2016 and Tds will be deducted? if yes at what %.



Profile Image

Amol S Joglekar

Profile Image

Amol S Joglekar (Expert)
27 September 2016 please refer section 194H and see if it is applicable to you

http://www.incometaxindia.gov.in/Pages/acts/income-tax-act.aspx
Profile Image

Chandan Arora

Profile Image

Chandan Arora (Querist)
27 September 2016 ok and thanx
Profile Image

Amol S Joglekar

Profile Image

Amol S Joglekar (Expert)
27 September 2016 you are most welcome.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

CAclubindia's WhatsApp Groups Link


Similar Resolved Queries


loading


Unanswered Queries


Easy Office

Trending Online Classes

view all classess
CCI Pro


Answer Query



Quick Links