Sale of mobile
This query is : Resolved
03 June 2013
hello freinds,
one of our client doing a mobile AMC business,in such type of business he has to pay claim in case of if any mobile irrepaireable or have cost of repair more then its value.
after that he sell such mobile in market in parts or some local repair.
he recognised AMC receipts as business income, how we will recognised income from sale of mobile.
is it treated as purchase or sale, or just treated as business other income.
thanks
one of our client doing a mobile AMC business,in such type of business he has to pay claim in case of if any mobile irrepaireable or have cost of repair more then its value.
after that he sell such mobile in market in parts or some local repair.
he recognised AMC receipts as business income, how we will recognised income from sale of mobile.
is it treated as purchase or sale, or just treated as business other income.
thanks
CMA Ramesh Krishnan
(Expert)
16 June 2013
My view. sales of mobile also can be treated as business income only
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
- GST Audit whether Govt Companies are exempt?
- PTRC Show Cause Notice on Email
- Accounting treatment of AMC alongwith the purchase of Laptop
- Unable to File TDS Q2 Return – New TRACES Portal Error
- Condonation Request sec 119(2) b -Enhancement Limit of Leave Exemption prior to AY 2023
- GST Treatment of Purchases with GST Paid where Outward Supplies of Manufactured CattleFeed Exempt
- Taxation of crypto futures in India Fy 2026- 2027
- EPF ECR NEW RULES Sep 17th 2026
- Issuing of delivery challan by seller of goods
- Transfer of Physical Stock Between Two Proprietorship Concerns
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
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
