Turnover

499 views 1 replies

Tax Consultant takes Tax amount in cash/ Cheque and the same is deposited in Tax Consultant account and for that per transaction Rs 50/- charged from the client ?

   From the above Question me want to know that -

a) The amount taken on behalf of the client (ie the Tax amount ) should it should come under Turnover?

b) Rs. 50/- charge for providing service can we book as income in accounts?

c) If rs 50/- charge for providing service so, Service Tax provision ia applicable or not ?

Replies (1)

a) Yes it shuld be taken as gross receipts receipts & considred as income.

b) Yes Rs 50 charged shud be considered as income

c) No ST needs to be collected on this 50 Rs amt.

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