Receiving Commission through Credit Note
This query is : Open
02 August 2010
I am receiving Commission for achieving target for every month on last day of month through Credit Note and amount is adjusted with my invoice value. So please tell me how do I passed journal entry in the books of A/c.
02 August 2010
You can accounted by 2 ways.
first :
you can adjusted credit note with invoice value against which you have received it.
ie. you have booked net purchase.
second
YOu can show it as commission on purchase and show it misll. income.
first :
you can adjusted credit note with invoice value against which you have received it.
ie. you have booked net purchase.
second
YOu can show it as commission on purchase and show it misll. income.
03 August 2010
Company who is giving credit note should deduct TDS on these credit note ,even if they are taking less payment by adjusting in future invoice?
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
- About TDS & Income Tax
- Claiming exemption of perquisite for employee-owned car under New Tax Regime in ITR-2
- Under construction property in ITR
- Section 194JA & JB Income which ITR Form to use
- PPF interest-As Exempt Income disclosure
- Scrutiny and reopening of past returns
- Pass word to open justification report for Q1 for FY 2026-27
- Upload Level ValidationITR3Category of Defect B/D
- Building tax payment deduction in rental Income
- Not able to file ITR
- Rental income of jointly held property
- Regarding ITR filing with more value than showing in AIS/TIS
- PF Taxable Income
- Clarification on Tax Audit Applicability and Reporting of F&O Transactions in ITR-3
- Interest credited in FY2025-2026 & TDS therein by EPFO does not reflect in AIS or Form 26AS
- 44ad eligble money lending interest
- Delisted shares sold in off market/ Rebate u/s87A
- In Exports Sales HSN details where to fill
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- Difference in tax comparison report
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
