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44 AB

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Querist : Anonymous

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Querist : Anonymous (Querist)
27 November 2010 hi iam confused about a problem.

in case of transport of goods by road, the transporter pays service tax on the gross value of the freight. however he is just acting as a commision agent and receive a small ampunt of commission. though as per service tax his turnover would be more and his income would be less. then for the limit of 44AB, the 40 lacs should be total of commission or total of

"service tax paid/2.58%"ie gross value of rent. in the given case the rent of truck is received by the truck holder directly from the consignee
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CA Shailesh Kumar Bhagat

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CA Shailesh Kumar Bhagat (Expert)
28 November 2010 Under service tax total amount received is taken for calculating the thrashold limit.

As per Income tax turover as per book is considered. So , if commission is booked as income, this will be taken for turnover u/s 44 AB.
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