turnover mean under section 44 AB
This query is : Resolved
CA H M JOHARI
(Querist)
13 March 2008
If any person sale goods on behalf of his prinicipal wheather sale proceed constitutes turnover or only C & F gross commission deemed to be his turnover
CA. GOPAL SONIKA
(Expert)
13 March 2008
for C&FA, comission only shall be his turnover.
CA H M JOHARI
(Querist)
14 March 2008
if C & F agent making bill in his own firm name with narattion C & F agent for ABC & Buyer makes pmt. directly to Principal not to C &
F Agent
F Agent
S.Srinivasaraghavan
(Expert)
14 March 2008
Can you please give an illustrative case of what exactly he does?
CA Praveen Chopra
(Expert)
14 March 2008
It doesn`t make any difference.Only commission constitutes turnover
14 March 2008
THE CONCEPT IN INCOME TAX OF KATCHA AHARTIYA WHERE BY IT MEANS THAT ONLY COMMISSION WILL CONSTITUE FOR CONSIDERATION OF TURNOVER
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