Dear Experts
Please resolve my query
One person is commission agent who books lorries on behalf of other transporters and receive payment.
TDS deducted u/s 194C and reflected in his 26AS.
He makes payment from his account to the other party and keeps only the commission for the service rendered.
How he will be treated?
What amount is to be taken while preparing p&l , whether to take full receipt amount as gross receipts or directly take difference of freight received and paid i.e. commission amount?
CAclubindia
