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.
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Commission Received from Network Marketing co
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.
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This particular case tds deducted Rs 40000. Can I show net profit below 50 percent of Gross commission Yes, No harm .... |
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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.
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