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Question ID : 38060

240554

What is the sale value of Recharge dealer for income tax purpose. Is it the Voucher value or the commission amount? and how to show reconciliation between IT sales, GST sales and TDS as per 26AS

Posted by Sai Ram on Mar 28, 2019

Filed Under DIRECT TAXES

Answer ID : 76430

Sale value depends on the contract with the company. If the recharge dealer purchases recharge and sales it then whole amount of voucher value is turnover. However if the recharge dealer is a commission agent then only commission received is his turnover. One has to prepare a reconciliation between all three including the books of accounts of the dealer and present accordingly.

Posted by CA. JHA SHANKAR KUMAR on Mar 29, 2019