A businessman who is providing the Mobile recharge facility i.e. having agencies of TATA docomo, Reliance, vodafone, airtel etc. and earn commission from them. His average annual gross receipt is Rs. 65 lac and commission is 3% = 1.95 lac What will be the taxable turnover counted for income tax return i.e. amount received from customer or only commission, which directly transferred by company to businessman?
Please reply its urgent..
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Turnover for income tax return
Replies (3)
Only the commission received shall be considered as the Turnover in the above case.
agree with Mr. Devendra... only commission part is to be taken for the purpose of calculation of turnover...
Sir can you give any legal support of your answer. i mean any case law, circular etc.
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