Comission received
This query is : Resolved
07 December 2013
client is doing profession business.
As commission received is shown under head Income from other sources
Then does it(commission) comes in P&L a/c.
If so then the Net profit which arises in P&L a/c is shown under head Business & Profession.
As commission received is shown under head Income from other sources
Then does it(commission) comes in P&L a/c.
If so then the Net profit which arises in P&L a/c is shown under head Business & Profession.
07 December 2013
Commision is business income and therefore will be credited to profit and loss a/c.
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09 December 2013
But commission received is shown under Income from other source
Ganeshbabu K
(Expert)
09 December 2013
Commission income is business income and taxable under head business income
.
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so you have to show this in profit and loss only
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.
.
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so you have to show this in profit and loss only
.
.
Message likes :
1 times
10 December 2013
That means Commission received does not comes under Income from other sources
Ganeshbabu K
(Expert)
10 December 2013
yes, it is ..
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.
commission income is treated as business income and taxable under
.
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commission income is treated as business income and taxable under
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