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Discussion < Income Tax < Whether Sales or Commission
Post Topic
students zone,CA Students
jhonny


[ Scorecard :60 ]

Dear Friends,

An sole proprietor  is  a  franchisee doing restricted money changing services for a  franchisor company who has RBI licence. He  purchase foreign currency from customers and surrender the currency to their franchisor. The franchisor will issue "Franchisee Purchase "voucher at the time of surrendering.  The income being the difference between the surrender value and purchase value. Whether TDS is to be deducted for this income? Is there any exemptions? What will be the turnover in the hands of franchisee?







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