banner_ad

Changeability of Commission Income

TDS / TCS 1321 views 8 replies

Commission Recd. during the course of business from supplier, they aslo dedect TDS on t same under 194 H. Under which Head tha said comm. is charge IOS or PGBP ? the said comm. have direct nexus with Business .

Replies (8)

in P/L account, indirect income, commission received, ( IOS)

yes credit the commission to p and l ac. it is taxable under pgbp

AGREE WITH ABOVE

credit in p/l. chargeble under PGBP.

Dear Member,

As per my opinion follwing entry should be passed for proper books keeping..

1.Commission A/c  Dr     xxx

      To P&L A/c                          xxx

If your main business is to take commission and do business with supplier then Income will be treated as PGBP.In any other case It will be IFOS.

 

Regards,

Ronak Darji

taxable in PGBP

Dear CCI Members , Thanks for replies. Mr. Ronak , i am agree with you but do you have any case law etc in supporting the same, because in my case the main business is trading and assessee incurred Expenditure against said commission, which is included in indirect epxenses and it is impossible to segregate the same . And furthure  i am not concern with accounting entries please explain the taxation implication only..................................

Thank in Advance ................................. 
 

As u are saying that expenses  against commission are included in Indirect expenses,than  it has to be  surely included in income of business i.e.P/L A/c of Business.


CCI Pro

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
ARTICLESHIP 23 May 2026
Article Assistants

Acupro Consulting

Gurgaon

CA Inter

View Details
Company
22 May 2026
U.S. Financial Reporting & Consolidation Manager

Karia Overseas

Ahmedabad

CA

View Details
Company
14 May 2026
Senior Accounts Executive

Karan Gupta & Co.

New Delhi

Graduate (Any)

View Details
Company
ARTICLESHIP 04 June 2026
Article

Rakhecha & Co.

New Delhi

CA Inter

View Details
Company
22 May 2026
Audit assistant

Displayandbeyond

Mumbai

CA

View Details
Company
16 May 2026
Account & Audit Asst

RAHUL KHANDEBHARAD & ASSOCIATES

Nashik

B.Com

View Details
Company
ARTICLESHIP 27 May 2026
CA Article Trainee

Rahul Dang & Associates-Chartered Accountants

Pune

CA Inter

View Details
Company
Featured 26 May 2026
Account Executive

SMJ global advisors pvt ltd

New Delhi

B.Com

View Details