banner_ad

Commission Received from Network Marketing co

Others 1393 views 10 replies

What will be the business code , some one received commission from Network Marketing company Rs 1100000 . In Itr3 , which business code should I select?

He has also distributorship Store.

Replies (10)

"09005' for commission agent...

And sir what about Distributorship Store for same company.

Is there any rules for percentage of net profit to Gross commission received. 

The Distribution store is in line with commission, so no separate code.

For commission income, no fixed rule of profit margin.

This particular case tds deducted Rs 40000. Can I show net profit below 50 percent of Gross commission

If I prepared Trading Account then Gross profit would be zero because commission receive shown on Profit and Loss ac ,so should I prepare Trading account or go witn PL account.

 
 

This particular case tds deducted Rs 40000. Can I show net profit below 50 percent of Gross commission

Yes, No harm ....

 

 

The receipts/TO in trading account would be total commission received. The same will get transferred to P&L account

But sir, in ITR3 form_ Commission is in Profit & Loss   Schedule.

Ok. Then enter the same in the Commission column directly.


CCI Pro

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
22 May 2026
Sr. Financial Analyst - Consolidation

Search Synergy

Mumbai

CA

View Details
Company
21 May 2026
Associate

PWC

Kolkata

CA

View Details
Company
26 May 2026
Education Content Creator

Adyayam Education LLP

Bengaluru

CA Foundation

View Details
Company
01 June 2026
Audit, Taxation & Compliance Executive

R P S K & Associates

Nashik

CA Inter

View Details
Company
Featured 26 May 2026
Account Executive

SMJ global advisors pvt ltd

New Delhi

B.Com

View Details
Company
04 June 2026
Semi Qualified CA

Goyal Puneet & Associates

New Delhi

CA Final

View Details
Company
ARTICLESHIP 15 May 2026
Audit Assistant / Article Trainee / Intern

SSGS and Associates

Chennai

CA Inter

View Details
Company
29 May 2026
Accounts assistant

Shubh Consultancy

Mumbai

Graduate (Any)

View Details