Accounting treatment !
This query is : Resolved
01 March 2013
Dear Experts Please clarify the following transactions.I Processed Printing & Job work in Dubai and dumped in dubai only. I don't have IEC code Party making the payment in India. In this case in what head we account the same. Please give me correct head of account. Is there any indian taxes applicable Thanks in Advance
01 March 2013
It is not taxable in India... for Individual. The residence test for COMPANY are different and hence the answer would differ. The non taxable amount can always be shown as CAPITAL receipt.
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