Recharge cards sales turnover is rs 6575937 /- it is 44ab?
Querist : Anonymous
one client is taluk level sim cards delaer (tata teleservice ltd distribution).
his annual turnover rs 6575937/- in rc e loads, sim cards (this is our ttl statement )
his vat returns turnover is 63625/- only on sim cards sale.
he received tds amount 28731/- on commissions 287266/-.
he can audited his books of accounts or 4ad claim on 2 87 266/- @8% is correct?
I assume this to be total recharge made by
your client to the customers.
The Commission of 287266/- must have arisen on Rs 6575937/-.
In this case you can be treated as an agent for the TTL provided the agreement/contract entered into with TTL describes this fact.
If the situation is so, Audit is not required.
If turnover of 65.75 lacs and Commission of Rs. 2.87 lac does not have such relationship, tax audit will be necessary.
Querist : Anonymous
e load means
direct cell to cell balance transfer recharge system.
i am sold to our local distributors through cell to cell balance transfer.
tata tele service was given to me the distributor system to sold the recharge and sim cards.
Querist : Anonymous
client and ttl co between a agreement for 3 years.
the agreement for taluk level distributor to sold the sim cards and rc cards.
In your case, the client is getting commission on recharge done. So, it is only the commission income which will treated as income of your client. Hence, tax audit will not be applicable in your case.
Querist : Anonymous
good explanation.
once angina thank you sirs/ medam
Click here to login now
Similar Resolved Queries
- Is this income indian or foreign income?
- 15ca /15cb whose income tax login? remitter or nri seller's login?
- GST on export of services and Input Credit
- ITC temporary reversal and reclaim
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- TDS U/S. 194NF
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- Applicable TDS rate for sale of property in Nov 2024
- RCM INVOICING FROM NOV-2024
- Import license renewal
- How to determine cost of acquisition of shares on De-merger or Merger
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
- Regarding einvoice taken on nil rated sales
Trending Online Classes
CAclubindia
