Sale - purchase or brokerage income
This query is : Resolved
24 November 2011
an indiviual is the broker of the abc commodities ltd
he deals on behalf of his clients
whether the transactions made by broker on behalf of clients shown as sale-purchase
OR
directly credited the brokerage income in his profit & loss a/c
he deals on behalf of his clients
whether the transactions made by broker on behalf of clients shown as sale-purchase
OR
directly credited the brokerage income in his profit & loss a/c
24 November 2011
Broker has to credit only the brokerage income in his P/L.The client will show purchase/sale in his books.
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