hi. i need to know is the transaction in bank included in income tax?
maria sarah (23 Points)
12 September 2017hi. i need to know is the transaction in bank included in income tax?
CA Naveen Chand
(Chartered Accountant)
(12729 Points)
Replied 12 September 2017
WHAT TYPE OF TRANSACTIONS ??
CLARIFY IT
maria sarah
(23 Points)
Replied 12 September 2017
maria sarah
(23 Points)
Replied 12 September 2017
maria sarah
(23 Points)
Replied 12 September 2017
maria sarah
(23 Points)
Replied 12 September 2017
Nikhil Bhat
(Financial services)
(133 Points)
Replied 12 September 2017
Most probably you are doing sales on commision business.
CA Naveen Chand
(Chartered Accountant)
(12729 Points)
Replied 12 September 2017
AS PER GIVEN ABOVE EXAMPLE , IT IS COMMISSION BASED SALE AND THE RS 1000 AS COMMISSION SHOWN IN YOUR ITR U/H "INCOME FROM OYHER SOURCES"
maria sarah
(23 Points)
Replied 12 September 2017
maria sarah
(23 Points)
Replied 12 September 2017
CA Naveen Chand
(Chartered Accountant)
(12729 Points)
Replied 12 September 2017
ARE YOU THE SELLER OR CONSINEE ??
maria sarah
(23 Points)
Replied 12 September 2017
maria sarah
(23 Points)
Replied 12 September 2017
CA Naveen Chand
(Chartered Accountant)
(12729 Points)
Replied 12 September 2017
FINAL ::
TAX PAYABLE ON COMMISSION RECEIVED FROM THE SELLER ONLY , NOT ON THE WHOLE AMOUNT RS 28000
AND IF COMMISSION RECEIVED FOR THE YEAR EXCEED 2.5 LAKHS THEN TAX LIABILITY WILL BE RAISED
THANKS !!
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