TDS DEDUCTION ISSUE
This query is : Resolved
05 October 2020
Sir,
I am a businessman ,filling my ITR U/S 44AD 6% or 8% of my total gross receipt
my total receipt- 4800000 (approx)
Income as per 8%- 384000 /-
But my question tds has been deducted from my parties about rs 10000 @1% on 1000000 rs u/s-194c
can i claim for refund as because upto 5 lacks income is exempt in A.Y-2020-21
please help
I am a businessman ,filling my ITR U/S 44AD 6% or 8% of my total gross receipt
my total receipt- 4800000 (approx)
Income as per 8%- 384000 /-
But my question tds has been deducted from my parties about rs 10000 @1% on 1000000 rs u/s-194c
can i claim for refund as because upto 5 lacks income is exempt in A.Y-2020-21
please help
05 October 2020
Yes, opt for 44AD with 8% profit and claim refund of TDS.
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