Query

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

19 February 2013 Mr. A sold goods worth Rs. 15000/- to Mr. B, now at the time of payment Mr. A suggested to Mr. B that he should pay to him Rs. 13000/- only and the rest Rs. 2000/- paid to transporter of such goods.
My query is that adjustment made as above is permissible in book of accounts as per incometax or tax audit ? or whether sale is to be considered to the extent of 13000/- ?
Please do needful help.

Dintakurthi Tirumala

Dintakurthi Tirumala (Expert)
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19 February 2013 Such adjustment is acceptable because of your purchase is Rs.15000 and at the request of the seller you make payment i.e you followed the guidelines of seller to make payment.

OM SAI SRI SAI JAI JAI SAI

Querist : Anonymous

Querist : Anonymous (Querist)

19 February 2013 What if when the amount of goods worth Rs. 15,00,000/- and the transporation is Rs. 1,20,000/-, same can be treated as above .

Dintakurthi Tirumala

Dintakurthi Tirumala (Expert)
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19 February 2013 Yes, the same treatment will be done. For evidence and proof of payment you shall collect the letter from the seller regarding payment guidelines.

OM SAI SRI SAI JAI JAI SAI

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