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
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