Dear Expert,
i have one client who is doing biz. of mobile recharges as a distributor.
He Purchase Recharges from co. and give retailers for that he will get commission from the company
my question is whether purchase and sale of recharges considered for turnover or not.
thanks advance
see, since u r asking question for turn over then u shud consider the reciepts in comm, form and compute his income. purchase n sale cannot be accounted for turn over and all.
if the company issue him sale invoice/ receive payment from him ,and in turn he issue sale invoice to his clients and receive payments from them for such invoice, then surely its part of turnover.
A R JADHAV AND ASSOCIATES
Mumbai
CA Inter
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