AUDIT
This query is : Resolved
10 September 2020
sir : "x" person is a Distributer of Airtel Company. Mr. "X" Purchase Mobile Recharge & Top up Recharge Coupen From Airtel Company. Mr. "X" Sale of Recharge & Top up Recharge Coupen to Retailer Distributer. ( "Y" Party) & Mr. "Y" (Retailer Distributer) Sale of Recharge & Recharge Coupen to Last Custumers. Mr. "X" Collect Cash Amount from Mr. "Y" Against Sale of Recharge. Mr. "X" Received Cash Amount Deposit his Current Bank Account & this amount Paid to Airtel Company. this Service Against Airtel Company Paid Commission @ 1.25% Main Distributer (Mr. X) And @ 2.50% Commission Paid to Retailer Distributer (Mr. Y) In this Process Mr. "X" (Main Distributer) Collect cash amount from Mr. "Y" (Retailer Distributer) This Amount Deposit in Mr. X Current Bank account and this amount Paid to Airtel Company By Online Transfer Q. 1. Mr. " X" Persen Turnover...........? Q. 2 He is Liabel for Audit...........?
CA R SEETHARAMAN
(Expert)
10 September 2020
1 X's turnover is 1.25% commission received.
2 He is liable for audit when commission income exceed 1 crore.
2 He is liable for audit when commission income exceed 1 crore.
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