Dear friends,
My client is having Airtel Agency.
He deposits cash in his Bank Account and does RTGS to Airtel agency of Rs. 4 to 5 Lacs each month. And gets value of same amount plus 1.25% commision value extra. e.g. he purchase value of Rs. 4,00,000/- then he would get value of Rs. 400000+5000-500(tds u/s 94J)=404500/-
In year, near about, Rs. 60,00,000/- tramsactions occured in his Bank account. in fact, Rs. 4,00,000/- hi bar bar ghum rahe hai.. but it does seem k Rs.60 lacs ki transactions ho gyi
uski return kse jaegi.
60,00,000*1.25%=75000/- as commission income
or by any other method
plz tel
CAclubindia
