Aisha (Finance Professional) (7874 Points)
27 March 2008I have recently floated a company.. intially i used to receive the revenue of my business in the name of two of my family members.. and since i hve entered into a long term contract with the concerned ppl i would still receive the revenue in the name of my family members only .. but i want to show the revenue in the company how can i do it????
VINOD
(MANAGER (FINANCE))
(21 Points)
Replied 08 April 2008
IN CASE YOU HAVE SOME WRITTEN DOCUMENT TO EVIDENCE THAT YOU HAVE SUCH LONG TERM CONTRACT WHEREIN YOU CANT CHANGE THE NAME OF RECEPIENT CONVENIENTLY ON THE ONE SIDE AND ON THE OTHER SIDE YOU HAVE CONVERTED YOUR CONSTITUTION WITH DOCUMENTRY PROOF, THEN YOU CAN CONTINUE TO SHOW THAT INCOME IN THE NEWLY CONSTITUTED ENTITY. RECEIPT IN PREVIOS NAME IS IMMATERIAL IF YOU CAN SUBSTANTIATE THE CHANGE OF CONSTITUTION PROPERLY.
GSTR 9 and 9C for FY 23-24 as amended by Notification 12/2024 dated 10th July 2024(with recording)
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