Nishant (Accounts Assistant) (378 Points)
26 July 2016Can an “individual” person who has
gross receipts of Rs. 5,40,000 with TDS of Rs.54000
maintain books on cash basis?
(Note : He is not bound to collect/pay service tax as his Total receipts is less than 10lakhs)
Nishant
(Accounts Assistant)
(378 Points)
Replied 27 July 2016
What about TDS deducted ?
In my case should i show it as
A)Gross Receipts Rs.5,40,000 as Income in P&L
or
B) Net Receipts Rs.486000 as Income in P&L
(Rs.486000 = Rs.5,40,000 (-) 10% TDS)
25 Hours GST Scrutiny of Return and Notice Handling(With Recording)
CAclubindia
