Commission agent of transport business
This query is : Resolved
22 February 2017
Dear Experts,
Please guide me regarding the taxability of the following -
A) Mr. X is a commission agent who books lorries on behalf of other transporters, issues his invoice and receives the
payment.
TDS is deducted on payments received and reflected in his FORM 26 AS
He makes payment from his account to the other party and keeps only the commission for the service rendered.
How will he be treated? Whether as Transporter or Commission Agent?
Also, can he file ITR 4s?
B) Mr. Y is a commission agent who books lorries on behalf of other transporters.
He does not issue any invoice and he DOES NOT receive any payment for goods.
The two parties directly make payment to each other.
He only acts as a mediator between two parties and receives the commission.
How will he be treated? Whether as Transporter or Commission Agent?
Also, can he file ITR 4s?
Please guide me regarding the taxability of the following -
A) Mr. X is a commission agent who books lorries on behalf of other transporters, issues his invoice and receives the
payment.
TDS is deducted on payments received and reflected in his FORM 26 AS
He makes payment from his account to the other party and keeps only the commission for the service rendered.
How will he be treated? Whether as Transporter or Commission Agent?
Also, can he file ITR 4s?
B) Mr. Y is a commission agent who books lorries on behalf of other transporters.
He does not issue any invoice and he DOES NOT receive any payment for goods.
The two parties directly make payment to each other.
He only acts as a mediator between two parties and receives the commission.
How will he be treated? Whether as Transporter or Commission Agent?
Also, can he file ITR 4s?
22 February 2017
A) He will be treated as transporter and he can file ITR 4S.
B) He will be treated as commission agent, he can't file ITR 4S.
B) He will be treated as commission agent, he can't file ITR 4S.
Message likes :
2 times
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
- ITR -1 Filing
- TWO FIRM NAME IN ONE GST NUMBER
- Section 54 f disallowed will be taxed at what rate
- Transportation of Petrol, Diesel by GTA and Other than GTA
- Eway issued more than one
- SEA GOING ALLOWANCE
- Transfer of Rectification Rights to the Jurisdictional Assessing Officer
- Transfer of rectification rights to ao
- TDS whether applicable or not in case of Flat purchase
- IGST Refund pending since June 2022.
- CHANGE IN PARTICULARS OF DIRECTOR
- Procedure and Documents Required for Release of FD from DVAT
- How to rectify gstr1 credit note
- Non- payment of GST on supply of services- reg
- Other party gstin shown on my login id
- Accumulated surplus exceeding 15%
- Different GST Number MEESHO
- Query on TDS Section 194H
- Fees amount transfer procedure for two doctors
- Notice u/s 148 of IT Act
Trending Online Classes
CAclubindia
