Treatment of gold received for trmendous performance by dealer of cement
This query is : Resolved
14 November 2015
If a cement manufacturing company gives gold to its dealers depending upon quarterly turnover made by dealers.Here my question in above situation is how should we effect above entries in dealers books and what are tax provisions applicable
19 November 2015
Gold received as incentives in business is business income. Cr. the receipt as indirect income and debit to gold a/c.
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