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This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

21 July 2014 I AM SALARIED EMPLOYEE & I HAVE PAID 2L TO ONE MULTI LEVEL MARKETING CO. & I AM GETTING BROKRAGE FROM THAT COMPANY & THEY HAVE DEDUCTED TDS. TELL TAX IMPLICATION. IN WHICH HEAD IT COME, FULL BROKRAGE IS TAXABLE, WHAT ABOUT 200000 WHICH I PAID.

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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21 July 2014 when u cal final tax liability then this tds is allowed to reduce the tax payable.

Querist : Anonymous

Querist : Anonymous (Querist)

21 July 2014 I HAVE TO ADD BROKERAGE INCOME IN WHICH HEAD

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Querist : Anonymous

Querist : Anonymous (Querist)

21 July 2014 SIR PLS REPLY I HAVE RECD BROKERAGE 50K. I HAVE ADD AS INCOME FROM OTHER SOURSES. IF I ADD INCOME WHAT ABOUT 2L WHICH I PAID.

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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21 July 2014 it is income from business only.....................

Querist : Anonymous

Querist : Anonymous (Querist)

21 July 2014 WHAT ABOUT 2 LAKH WHICH I PAID.
FULL 50 K I HAVE TO ADD IN BUSSNESS INCOME.

Querist : Anonymous

Querist : Anonymous (Querist)

21 July 2014 WHAT ABOUT 2 LAKH WHICH I PAID.
FULL 50 K I HAVE TO ADD IN BUSSNESS INCOME.

Querist : Anonymous

Querist : Anonymous (Querist)

21 July 2014 WHAT ABOUT 2 LAKH WHICH I PAID.
FULL 50 K I HAVE TO ADD IN BUSSNESS INCOME.

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Querist : Anonymous

Querist : Anonymous (Querist)

21 July 2014 WHAT ABOUT 2 LAKH WHICH I PAID.
FULL 50 K I HAVE TO ADD IN BUSSNESS INCOME.

Querist : Anonymous

Querist : Anonymous (Querist)

21 July 2014 WHAT ABOUT 2 LAKH WHICH I PAID.
FULL 50 K I HAVE TO ADD IN BUSSNESS INCOME.

Querist : Anonymous

Querist : Anonymous (Querist)

21 July 2014 WHAT ABOUT 2 LAKH WHICH I PAID.
FULL 50 K I HAVE TO ADD IN BUSSNESS INCOME.

Querist : Anonymous

Querist : Anonymous (Querist)

21 July 2014 WHAT ABOUT 2 LAKH WHICH I PAID.
FULL 50 K I HAVE TO ADD IN BUSSNESS INCOME.

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CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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21 July 2014 yes show full amount and later take tds credit of tds deducted.

Querist : Anonymous

Querist : Anonymous (Querist)

21 July 2014 WHAT ABOUT 2 LAKH WHICH I PAID.
FULL 50 K I HAVE TO ADD IN BUSSNESS INCOME.

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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21 July 2014 rs 2 lakh paid for what purpose is not mentioned.

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Querist : Anonymous

Querist : Anonymous (Querist)

21 July 2014 IN MULTI MARKETING HAVE TO PAY 1ST SOME AMOUNT TO JOIN THE COMPANY I.E. RS 200000

Nikhil Kaushik

Nikhil Kaushik (Expert)
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21 July 2014 treatment of Rs 2 lakhs shall depend on whether it is refundable or not. If the amount is refundable, then show it as a deposit, else expense it out.

Querist : Anonymous

Querist : Anonymous (Querist)

21 July 2014 NOT REFUNDABLE. 2 LAKH EXP. INCOME 53750 SO THERE IS NO NEED TO TAKE INCOME IN IT RETURN.

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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21 July 2014 then u can claim against teh brokerage income as exp.

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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21 July 2014 then u can claim against teh brokerage income as exp.

Querist : Anonymous

Querist : Anonymous (Querist)

21 July 2014 NEGATIVE WILL COME. EXP. MORE THAN INCOME ALLOWED.