Not an professional

This query is : Resolved

pradeep (Querist)
Follow

06 October 2009 I am a B.Com graduate. I am receiving my salary in the form of commission but my TDS has been deducted u/s 194J & my gross receipt is above 1,000,000. Will I be liable to tax audit

chetan soni

chetan soni (Expert)
Follow

06 October 2009 yes, you will be liable for tax audit. As the tds deduction is as professional.

pradeep

pradeep (Querist)
Follow

06 October 2009 300

Upgrade to CAclubindia Pro. Subscribe Now!

pradeep

pradeep (Querist)
Follow

06 October 2009 If I audit has not been done & due date has gone,waht can be done to be safe

chetan soni

chetan soni (Expert)
Follow

14 October 2009 There is only one option maintained the books of accounts on cash basis.
If you receive the contract payments in Chq's then you can show March 09 chq. has deposited in April 09. Account for this on receipt basis and check whether the receipts has come down below 10L. If it is below 10L then you are out off tax audit provisions.