CLEARING AND FORWARDING AGENT
This query is : Resolved
27 January 2011
A C&F agent pays freight and other charge to shipping comapny nad later recover it from company(on behalf of whom it has paid freight) whether this reimburshment of freight will be added up in the sales/ gross receipt of C&F agent for the purpose of turnover for section 44AB???????
27 January 2011
Sec 44AB talks of gross receipts, and hence the C&F charges you are paying even though in the form of pass thru will be counted as part of gross receipts. In computing the Rs 60 lacs limit
27 January 2011
but what about the freight which the agent is paynig on behlf of company and getting back as reimburshment will it be added in the turnover
27 January 2011
It will be very helpfull if u can provide any case law.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- About TDS & Income Tax
- Under construction property in ITR
- Scrutiny and reopening of past returns
- Section 194JA & JB Income which ITR Form to use
- PPF interest-As Exempt Income disclosure
- Pass word to open justification report for Q1 for FY 2026-27
- Building tax payment deduction in rental Income
- Upload Level ValidationITR3Category of Defect B/D
- Booth for sales promotion
- Capital Gains on sale of residential flat
- F & O PROFIT REPORTING FOR AY 2026-27
- PF Taxable Income
- Clarification on Tax Audit Applicability and Reporting of F&O Transactions in ITR-3
- Interest credited in FY2025-2026 & TDS therein by EPFO does not reflect in AIS or Form 26AS
- 44ad eligble money lending interest
- Delisted shares sold in off market/ Rebate u/s87A
- In Exports Sales HSN details where to fill
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- Difference in tax comparison report
- Gst invoice numbering and delivery challan numbering
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
