Management agency agreement
This query is : Resolved
18 February 2009
A company get into agreement to provide ATM and ATM services to a bank for 5yrs.
now after two yrs bank want to terminate agreement and ready to pay compensation in 45 monthly installmnets. balance period of contract is 36months.. the company receiving compensation from bank need to know how they will account compensation.. whether they need to account full compensation current year or on receipt of compensation by insatllment. they made a agreement to get compensation 45 installments. pls advice
now after two yrs bank want to terminate agreement and ready to pay compensation in 45 monthly installmnets. balance period of contract is 36months.. the company receiving compensation from bank need to know how they will account compensation.. whether they need to account full compensation current year or on receipt of compensation by insatllment. they made a agreement to get compensation 45 installments. pls advice
29 March 2012
The compensation shall be recognised on receipt basis.
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
- CAPITAL GAIN REDEVELOPED FLAT
- Multiple payment of self assessment tax for A Y 2025-2026
- Requirement under FEMA &RBI
- REGARDING ITR FILING QUESTION
- CLOSING STOCK QUERY
- DUE DATE FOR ITR FILING
- Computation of Dividend
- Gst reverse charge mechanism to be claimed in the month of payment
- ITR 44AD SECTION
- Query regarding Item 61/62/63 vs Item 64 in ITR-3
- GST REGISTRATION REQUIRED TO DIAGNOSTIC UNIT
- Concept of Vendor and customner reconciliation
- Mistake in e-invoice identified after 24 hours
- EXPORT PAYMENT
- NRI ITR2 account in 2025-26.
- Query regarding reporting of exempt foreign remuneration in ITR (AY 2026-27)
- FEMA/RBI treatment — Amazon.ca arbitrage (US buy, Canada sell, goods never enter India)
- Goods return by customer
- INWARD REMITTANCE FOREIGN
- CPC and SAC
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
