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Amount received from client to pay their gst
The client is transferring the GST amount to my bank account for GST payment. My question is, how should I report this type of transaction for income tax purposes to avoid receiving an income tax notice?
Replies (3)
No issues...
Account as per Client ledger and pay to GST the same.
Account as per Client ledger and pay to GST the same.
Amount received from client to pay their gdt
This is not income as per Income Tax Act. Book into your books as reimbursements as pure agent
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