My cousin is having business of telecom service means he purchased flexi recharge coupon from idea and sell them to retailers and earn a commission on sales around 5.5lakhs and turnover made is Rs. 1.5 cr whether tax audit applicable or not please suggest as last date is near please help on the matter.
Menu
Income tax
Replies (2)
here your cousin is doing business of trading rather than commission according to my opinion. unless otherwise your cousin enter into or enrolled as distributor with idea cellular it'll be construed as trading only and trade turnover subject to audit based on the value of turnover otherwise commission receipts have to be taken for turnover.
Recent Topic
- Startup exit in Sept 2025: Can I still save LTCG t
- Need advice
- GST registration
- Tax Refund timeline
- Is Form 10E applicable for Notice Pay received in
- INCOME RECEIVED FROM COMPANY FOR ELECTRIC POLLS
- ITR Processing By CPC Now Super Fast - Much apprec
- Abroad Jobs
- Professional Income in 44AD
- Presumptive taxation
Related Topics
CAclubindia
