TRAVEL AGENT ACCOUNTING TREATMENT AS PER INCOME TAX LAW
This query is : Resolved
maksad rajani
(Querist)
19 January 2023
DEAR SIR
MY CLIENT IS AN TRAVEL AGENT ( SAY X ) PAID A AMOUNT TO TRAVEL AGENCY ( LIKE .: VIA ) ( SAY Y ) AND GET BALANCE IN HIS LOGIN ID AND ISSUED A TICKET TO CUSTOMER ( SAY Z).
ON ABOVE TREATMENT
Y IS PAID A COMMISSION FOR ISSUED A TICKETS TO X.
Z IS PAID WHOLE TICKETS AMOUNT TO X.
1. WHAT IS SALES ? (COMMISSION INCOME RECEIVED FROM AGENCY OR WHOLE AMT RECEIVED FROM CUSTOMER )
MY CLIENT IS AN TRAVEL AGENT ( SAY X ) PAID A AMOUNT TO TRAVEL AGENCY ( LIKE .: VIA ) ( SAY Y ) AND GET BALANCE IN HIS LOGIN ID AND ISSUED A TICKET TO CUSTOMER ( SAY Z).
ON ABOVE TREATMENT
Y IS PAID A COMMISSION FOR ISSUED A TICKETS TO X.
Z IS PAID WHOLE TICKETS AMOUNT TO X.
1. WHAT IS SALES ? (COMMISSION INCOME RECEIVED FROM AGENCY OR WHOLE AMT RECEIVED FROM CUSTOMER )
CA R SEETHARAMAN
(Expert)
20 January 2023
The sales is only commission income received, being agent.
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
- EPF ECR NEW FILE SEP 17TH 2026
- TDS on Fixed Assets purchased
- How to Handle Active E-Invoices in GST Portal Deleted from Tally?
- Oct 2025 Invoices
- Non filing of I T Returns
- SECTION 393(3) TAX ON CASH WITHDRAWAL
- TAX AUDIT ON PROFESSIONAL INCOME
- Clarification Requested: Gift → NRO → NRE → Overseas Transfer - USA/CANDA (FEMA & Tax Compliance)
- Under marginal scheme
- Capitalgain tax purposes for valuation report compulsory
- Capital Gail Exemption Certificate
- 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
- How to pay remaining amount of TDS after due date?
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
