Tax audit on commission income

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8 Points Posted on 11 June 2020
what is the applicability for tax audit on companies earning commission income?
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On 11 June 2020 at 17:05 Report
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This discussion clarifies when a company earning commission income is subject to a tax audit. The general rule is that if your total turnover exceeds £1 million, a tax audit is likely required, similar to other business income. Commission is typically determined based on contractual agreements with clients.

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17 Points Posted on 11 June 2020
What basis commission is determined?
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On 11 June 2020 at 21:12
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8 Points Posted on 11 June 2020
The main source of income of the company is commission and is determined based on the contract with the party
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On 11 June 2020 at 21:34
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17 Points Posted on 11 June 2020
Nature on business contract?
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On 11 June 2020 at 21:35
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12244 Points Posted on 12 June 2020
As like other business income... total turnover should be more than 1 cr for tax audit
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On 12 June 2020 at 01:37

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