How much n.p.required to be shown in p & l a/c.
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
06 July 2015
Dear Sir,
One of my relatives working as mediator in land purchase and sale transaction, he earned commission of Rs.285000 during F.Y-2014-2015 and land purchaser deduct tds U/s 194 ( H ) @ 10% of Rs.28,500 at the time of making payment of commission.
Now, I have question that how much profit I should shown in statement of Profit & loss A/c as commission business does not have many expenses as like normal business.
Please suggest me best answer.
One of my relatives working as mediator in land purchase and sale transaction, he earned commission of Rs.285000 during F.Y-2014-2015 and land purchaser deduct tds U/s 194 ( H ) @ 10% of Rs.28,500 at the time of making payment of commission.
Now, I have question that how much profit I should shown in statement of Profit & loss A/c as commission business does not have many expenses as like normal business.
Please suggest me best answer.
06 July 2015
You can claim traveling expenses to earn the income.
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