10 August 2016
one of the our client act as agent between farmer (maize which is agriculture product ) and company. company pays commission for this and also total bill amount paid to agent bank account. AGENT WITH DRAW CASH AND PAYING TO FARMERS TOTAL AMOUNT OF 27 BILL 89,28,000/- for this transaction he get as commission of Rs. 32,000/-
Q1) Above total amount of Rs. 89,28,000/- is considered as his turnover OR Not. Q2) more then 20 bill are crossing 2,00,000/- he paid in cash there is any TCS applicable Q3) What is his liability for the above transaction
CAclubindia
