MURALIDOSS (INCOME TAX PRACTITIONER) (1314 Points)
16 December 2017DEAR ALL,
MY CLIENT IS A COURIER AGENT, HE DO CASH ON DELIVERY SERVICE FOR HIS COMPANY,
AMOUNT THOSE COLLECTED FOR COMPANY HE TRANSACT THROUGH HIS BANK ACCOUNT TO (TRANSFER/SEND)
IS IT THAT AMOUNT IS CONSIDERED HIS TURNOVER?
HE IS ONLY COMMISION AGENT. WHAT IS THE NATURE/MEANING OF THAT CASH ON DELIVERY AMOUNT COLLECTED AND DEPOSITED TO BANK ACCOUNT.
COZ , HE ASKING OVERDRAFT/TERMLOAN FROM A BANK.
PLEASE ADVISE.
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(169397 Points)
Replied 24 December 2017
His turnover is just commission received from the company. He is collecting agent for the COD.
MURALIDOSS
(INCOME TAX PRACTITIONER)
(1314 Points)
Replied 25 December 2017
Then, what is the status of that current account opened by the agent even though those amounts are not his own?
CAclubindia
