Taxation under Section 44AD for TDS
This query is : Open
12 March 2024
My company has opted U/s. 44AD & net turnover for the year is ₹10Lakhs in which payment rec'd via bank channel (Online & Cheque) is ₹6.5Lakhs + Cash - ₹1Lakh + TDS - ₹20K + Bad Debts - ₹13K & Outstanding is ₹2.17Lakhs.
Please guide in which tax slab (6% / 8%) I have to put TDS, Bad Debts & Outstanding amount.
Please guide in which tax slab (6% / 8%) I have to put TDS, Bad Debts & Outstanding amount.
13 March 2024
6% For receipt through banking mode. 8% for cash receipts.
13 March 2024
& what about part payment rec'd in bank & balance in TDS ?
13 March 2024
That's also a digital mode receipt of amount and balance is TDS. It's not cash transactions.
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