14 August 2013
Dear Sir, There is an assessee who is a sim card retailer and thereon he has received commission of Rs. 200000/- in FY 2012-13 and tds deducted is Rs. 20000/-.
After meeting business expences his net profit would be about 85000/-.
Whether he is liable to maintain a/c as he is out of Section 44AD due to commission income
or
He is not liable to maintain a/c from the purview of Sec. 40AA, as his gross recipts are below 10 lacs and net profit is below 1.20 lacs.
Please clarify.
Querist :
Anonymous
Querist :
Anonymous
(Querist)
14 August 2013
Dear all,
What is the due date of VAT TDS on work contracts? Is it 21st or 7th of next month?