BILL DISCOUNTING query

154 views
User Avatar

53 Points Posted on 13 September 2022
Hi.
Would be great if someone can help with these two queries:


1. Commission earned on bill discounting is to be treated as business or profession (For pvt ltd co)

2. Whether the above commission received will be treated as a financial income or no?
0 Reply Share Follow
On 13 September 2022 at 16:24 Report
Replies (2)
Quick Summary
This discussion explores the tax treatment of commission earned through bill discounting for private limited companies. It questions whether this income should be classified as business income or financial income. The consensus suggests the classification depends on the specific circumstances of the case, and also touches upon the applicability of TDS on such income.

User Avatar

tax consultant
3306 Points Posted on 14 September 2022
It would be either business income or an income from other source depending upon facts of the case.
Reply
On 14 September 2022 at 11:40
User Avatar

Accounts
528 Points Posted on 23 December 2022
Tds applicable on this income?
Reply
On 23 December 2022 at 07:12

Leave a Reply

Post Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Recent Topics :

  1. Capital gains incidence due to bonus shares
  2. Amendment of Object Clause of Memorandum
  3. How Can I Request a Refund for an Accidental Airte
  4. TDS on salary paid in cash
  5. YEAR END GST ENTRY FOR RCM NOT PAID RS 5000 I.E OU
  6. Last Date To Fill ITR For Non-Audit Case
  7. Guidance Required on Filing Fresh Registration und
  8. IT Return Refund Status AY 2026-27
  9. Clarification Regarding Income Tax Demand Notice
  10. Online PAN Download: Check How?

More recent discussions | Post

Related Topics :

Loading