1. When the amount owed to the selling decreases, the seller issues credit notes to the buyer. The seller acknowledges the amount that must be returned to the buyer or any modifications that will be made in the subsequent transaction by giving the buyer a credit note.
  2. A debit note is a document that the vendor gives to the buyer informing them of their outstanding debts. It can also be made by the customer when they return items that they were given on credit because of problems or defects. This debit note contains all the information on the returned things, such as the reason for the return, the date of purchase, the quantity of items, etc.
  3. A sales order is a document that the seller creates that contains information about the goods or services that the consumer has ordered. The sales order includes information on the goods and service, as well as terms and conditions, quantity, and pricing.
  4. According to Section 194I, rent is defined as a sum of money paid under a lease, sublease, tenancy, or any other arrangement for the use of land, buildings, machinery, plant, equipment, furnishings, fittings, or land that is an adjunct to a structure. regardless of whether it is owned by the payee. Subletting is also seen as a kind of rent payment.