accounting treatment
This query is : Open
Querist : Anonymous
Querist :
Anonymous
(Querist)
06 August 2010
Business: Clearing & Forwarding agent
total receipts > Rs. 40,00,000
very low margin on receipts
comm. income ranging between 4 to 5 lacs
should i treat the diff between receipts and payments as commission ?
total receipts > Rs. 40,00,000
very low margin on receipts
comm. income ranging between 4 to 5 lacs
should i treat the diff between receipts and payments as commission ?
06 August 2010
You must specify...what are the items that are included in receipts & what are included in payments, then only a clear answer can be given.
06 August 2010
You must specify...what are the items that are included in receipts & what are included in payments, then only a clear answer can be given.
06 August 2010
You are not engaged in any purchase or sales; you are engaged in service sector.
Hence; you may record only commission as your income.
You are not engaged in any purchase or sales; you are engaged in service sector.
Hence; you may record only commission as your income.
Querist : Anonymous
Querist :
Anonymous
(Querist)
09 August 2010
payments are made to the Shippers for booking space and receipts are related to the bill amt recd from the customers after deducting TDS...
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