Dear Sir,
Can you please Guide.... Share of profit from profit sharing arrangement between two Company for sale of Product is classified under other Income or Sales.?
Menu
Grouping of Profit Sharing Arrangment
Replies (2)
Quick Summary
It should be shown as Income not sales as it is the profit which have earned according to the share of profit as per arrangement
Sales Revenue= parent + subsidiary
Profits attributable to shareholders / owners equity= NCI method
Recent Topics :
- How do you collect documents from clients for ITR
- GST ITC on Construction/ Tenant Specific Renovatio
- GST Treatment and Reporting of Share & Mutual
- AGM Defective Notice
- IMS Rejection of Sales and Sales return
- Taxation of Gift - Father to Daughter
- TDS on Property Purchased above 50lakh
- Accounting Treatment in Tally for Restaurant Sales
- Form 146 required
- Rule 86(B) Applicability
Related Topics :
CAclubindia
