INSURANCE COMMISSION
RAJIB BHATTACHARJEE (82 Points)
29 July 2019
SIR MY QUARY INSURANCE COMMISSION WHERE I CAN SHOW TRADING A/C OR PROFIT & LOSS S/C.
4 Replies
CA PREM KUMAR
(Chunduru & Co)
(296 Points)
Replied 29 July 2019
if it is income show under income / profit under revenues - commission income
if it is a expense show under indirect costs - as commission expense
RAJIB BHATTACHARJEE
(82 Points)
Replied 29 July 2019
ok sir but income where I show income side of trading a/c or other income on p/l a/c
CA PREM KUMAR
(Chunduru & Co)
(296 Points)
Replied 29 July 2019
if commission income is the main business then show under trading account. if it is other income then show under profit and loss account
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