urgent plz help guys.......

AS 864 views 8 replies

plz help me guys and solve my following query....

wr i m doing audit a doubt has come an C & f agent receives commission from govt.agency for selling medicine he receives tds certificate for the same but now he is telling me that show this is as sales as all the responsibility is of our.an clearing and forwarding agent who sales medicine on behalf of govt.agency can he show this income as sales even if same is shown as sales by govt.agency if yes than give me the section in which it can do so if no than also or provide me some attachment or link.

Replies (8)

If the purchases of medicines are on his name and sales too on his name then he must show both sale n purchase otherwise just book commission on credit side of p&l

Mr Ankur Jain is right !

Agree with Ankur.....

Originally posted by :aNkuR jAin....................
" If the purchases of medicines are on his name and sales too on his name then he must show both sale n purchase otherwise just book commission on credit side of p&l "

 Mr. Ankur is right..

in accordingto AS-9

in this case agent can recognise only income as commission credited in his PL A/c

Ankur Is Right

i agree with pawan


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