Lottery business
This query is : Resolved
27 September 2016
Journal entries for Jewelry given to winner in a lucky draw.also for commission given to reference made by people who are in networking.
and heir treatment in Balance sheet if any
27 September 2016
debit prize
credit bank/cash as the case may be
(Being jewellery given as prize)
debit commission
credit bank/cash as the case may be
(Being referral commission paid)
credit bank/cash as the case may be
(Being jewellery given as prize)
debit commission
credit bank/cash as the case may be
(Being referral commission paid)
27 September 2016
and Tds will be deducted? if yes at what %.
27 September 2016
please refer section 194H and see if it is applicable to you
https://www.incometaxindia.gov.in/Pages/acts/income-tax-act.aspx
https://www.incometaxindia.gov.in/Pages/acts/income-tax-act.aspx
27 September 2016
ok and thanx
27 September 2016
you are most welcome.
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
- House Property Reporting in ITR
- Internship/Academic shown in Salary Pay Slip of a Doctor
- TDS Claim year
- Nomination of Bank for refund in itr 2
- Rent lease agreement
- Refund of 20%pre-deposit paid for stay application
- Relief u/s Section 89
- TDS Challan Code
- SGST balance is there in credit ledger how to adjust for cgst
- CCFS 2026 Schemed
- E way bill for tractors
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
- 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
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
