Profit margin of travel agency
This query is : Resolved
06 February 2014
One Pvt Ltd company engaged in the business of Travel Agency gets around 2%-3% commission on ticket bookings. But they does not maintain books regarding portion of commission in each transaction. Can they show net profit around 2%-3% of total turnover on aggregate basis for income tax purpose.
06 February 2014
The private limited company has to maintain books of accounts and get its account audited under company law.
06 February 2014
Can they show net profit around 2%-3% of total turnover on aggregate basis for income tax purpose.
06 February 2014
Rohit ji the maintenance of books are must under company law. The filing of balance sheet and P&L Statement with ROC/MCA is also compulsory, so don't try to show any other figure for income tax purpose.
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