Hi all,
My friend is involved in providing services to an Organisation. He supplies manpower to conduct tests and recruitment activities for students. He gets payment from the organisation for the per day charge of the manpower deployed + for other expenses like travel, food, accommodation etc.
The organisation deducts 10% TDS.
How to maintain his books of accounts? Is he liable to pay tax for the entire amount that he receives? Because a major portion of it goes to such payments mentioned above.
Please help.
CAclubindia
