Nishant (Accounts Assistant) (378 Points)
26 July 2016
Can 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)
Akash
(CA Final (2nd Group Pending))
(876 Points)
Replied 27 July 2016
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.540000 (-) 10% TDS)
Akash
(CA Final (2nd Group Pending))
(876 Points)
Replied 28 July 2016
| Originally posted by : Ashok | ||
 |
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.540000 (-) 10% TDS) |
 |
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