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Business promotion
My business is Biopharmaceuticals, for promote this i have to pay some doctors in form of cash or gift as business promotion. Please tell me how to entry in tally and Is it taxable or not, if yes then on which amount.
Replies (2)
1. If you pay cash to doctors
Business Promtion A/c Dr
To Cash A/c
2. If in kind than
Business Promotion A/c Dr.
To Name of particular items
Business Promtion A/c Dr
To Cash A/c
2. If in kind than
Business Promotion A/c Dr.
To Name of particular items
1. If you pay cash to doctors
Business Promtion A/c Dr
To Cash A/c
2. If in kind than
Business Promotion A/c Dr.
To cash/Bank A/c
Yes it is taxable like other business.
Taxabilty
8% of your turnover (us 44AD)
or
if you want to show less profit than you need to maintain books of accounts financial statement for that particular financial year.
from this year if you show less than 8% you have to audit your books of account for next five year
Business Promtion A/c Dr
To Cash A/c
2. If in kind than
Business Promotion A/c Dr.
To cash/Bank A/c
Yes it is taxable like other business.
Taxabilty
8% of your turnover (us 44AD)
or
if you want to show less profit than you need to maintain books of accounts financial statement for that particular financial year.
from this year if you show less than 8% you have to audit your books of account for next five year
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