Hi,
Recently when i go through the Accounts of a Chit Company i came to know that Foreman Commission is generating as Income but my doubt is that
When Foreman take the Bid, is the Foreman Commission is Income to company? if yes why if no why. I thought that is neither an income nor an expense for the Company as Company itself taking the Bid. But when i asked a CA this quesiton he said it is an Income.
Regards,
Venkkatesh
It is absolutely income to the chit fund company.
Dear Sir,
May i have the Section in the Income Act or Chit Fund Act regardng this explanation.
Vakilsearch.com
Chennai
CA Inter
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Vakilsearch.com
Chennai
CA Inter
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CCI
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