ONE OF MY CLIENT VODEFONE DEALER HIS TURNOVER 1565280/- TDS DEDUCTED U/S 194H 78264/- . MY QUERY CAN WE DECLARED THE RECEIPTS U/S 44AD PRESUMPTIVE TAXATION. PLEASE CLARIFY ME WHERTHER SHOULD WE DECALRE 50% OF TURNOVER INCASE OF HE DID NOT HAVE ANY GST REGISTRATION. CAN WE CLAIM TDS AMOUNT AS REFUND.
PLEASE DEAR SIR CLARIFY ME THIS VERY URGENT YOUR GUIDENCE VERY RELIABLE
24 June 2023
Thank you sir, Yes that's his business receipt but the company deduct tds u/s 194h as commission but he didn't receive such huge commission he has deduct his expenditures
He did not receive merely such huge commission he wants to tds refundable because the expense like trveling, salary, miscellaneous expenses rent, incurred only 1.5% profit or commission he received
24 June 2023
He can deduct all the expenses incurred during the business from the commission earned. Remaining amount he can offer to tax, against claim of TDS.
Some one miss guided Like all receipts are commission must declare 50% of turnover means nearly 750000/- as his income so the person asked me file it return what he said so then I said no the receipts not income based but turnover based so deduct expenditure you incurred dear sir is that correctly o advice him
24 June 2023
You are correct. After deducting all the expenses the net income can be even less than 50%.. Yes, file ITR 3 under business income and claim TDS deducted.
ONE OF MY CLIENT IS EXEMPTED GOODS SUPPLIER, IN THE MONTH OF DECEMBER 22, THE BANK PEOPLE ENTERED SERVICE CHARGES BILL IN GSTR 2A, BUT I WAS NOT CLAIMED THE ITC IN THE MONTH OF JAN 23. NOW MY CLIENT TURNOVER IS 1,51,00,000/- . NOW MY QUERY IS STILL WE NEED TO FILE GSTR 9 2. IT IS CORRECT THAT LESS THAN 2 CRORE TURNOVER GSTR 9 IS NOT MANDATORY 3. EXEMPT SUPPLIER CAN NOT CLAIM ITC THEN HOW TO ADJUST IN THE GSTR 9 FORM. 4 TABLE 7 OF THE GSTR 9 WHAT IS ITC REVERSED MAY BE CREDIT NOTES ENTERED BY THE SUPPLIER IN GSTR 2B IS SHOWN IN THE COLUMN H(1) OF TABLE 7.
PLEASE CLARIFY ME DEAR SIR, I AM WAITING FOR YOUR SUGGESTION
CAclubindia
