Eligibile for audit ot not?
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
27 January 2015
The person engage in online Air Ticket Booking. Accepting deposit from customer for booking and book ticket for the same, for this he got around 2-3 % commission on Ticket value.My Queries are as under
1.The Gross receipts deposited in bank is more than 1 Cr because the customer deposited money for Ticket booking. is liable for Tax audit?.
2.His income is only commission
3. whatever amount deposited in bank the same amount use for ticket booking. If Any issues due to Gross receipt more than 1 cr. because bank showing the same in AIR details to income tax.
1.The Gross receipts deposited in bank is more than 1 Cr because the customer deposited money for Ticket booking. is liable for Tax audit?.
2.His income is only commission
3. whatever amount deposited in bank the same amount use for ticket booking. If Any issues due to Gross receipt more than 1 cr. because bank showing the same in AIR details to income tax.
27 January 2015
IN THIS CASE, ONLY COMMISSION IS HIS INCOME. SO the limit of Rs.1.00 crore should be applied to his Commission income.The money he receives for Ticket booking is in the capacity of trustee only.
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
- TDS on Purchase of Immovable Property by NRI from NRI
- INTEREST APPLICABLE ON ITC REVERSAL PORTION
- Current Account Opening for Sole Proprietorship with Udyam Certificate - Zero Turnover
- Capital gain from sale of house property
- Regarding TDS Applicability For Director Remuneration
- SFT Cash Deposit in Current Account
- Value of property in capital gain
- FORM 26A APPLICABILITY
- Multiple trade mark
- When TDS on GST applied
- GST Treatment of Insurance Commission for Existing GST Holder
- Cash gift by grand mother to her grand daughter
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
- No Compliences after incorporation
- USEFUL LIFE OF USED/SECOND HAND COMMERCIAL VEHICLES
- Claiming TDS deducted by builder on Hardship compensation and Corpus
- Address Change to another state of a Registered Trust with 12AB approval
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
