tax audit on commission
This query is : Resolved
20 August 2008
Dear Members
One of my client is providing services to the private banker. Client providing the services of either collecting fund or catching vehicles on behalf of bank. In such case client gets commissio.
My query is that whether tax audit is applicable in case assessee's gross receipt is more than 10 lacs.
One of my client is providing services to the private banker. Client providing the services of either collecting fund or catching vehicles on behalf of bank. In such case client gets commissio.
My query is that whether tax audit is applicable in case assessee's gross receipt is more than 10 lacs.
21 August 2008
No, it will be applicable in case commission earned is 40 lacs or more.
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