Sales commission exps
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
16 February 2014
IF WE MADE PAYMENT FOR COMMISSON TO OUR SALES COMMISSION AGNET FOR HIS SALES COMMISSION IN ADVANCE @ 50% (WHATEVER THE COMMISSION AMT) WITHOUT SALES IN RELEAVANT FINAINCIAL YEAR.CAN WE BOOK THIS COMMSSSION EXPENSE IN OUR BOOKS OF ACCOUNT ? CAN INCOME TAX DPET DISALLOW IT ON THE BASIS THAT SALE HAS NOT BEEN MADE IN RELEAVANT FINANCIAL YEAR.
CA PARAS BAFNA
(Expert)
16 February 2014
Expense can not be booked because the terms of agreement is based on the sales. Zero sales will result in zero commission. ITD will disallow the expense.
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