CA NEHA (CA) (48 Points)
21 August 2019THERE IS A COMMISSION INCOME TO A PERSON BUT IN 26AS TDS IS DEDUCTED UNDER SECTION 194IA. CAN WE MAKE PROFIT & LOSS ACCOUNT FOR THE SAME. IN 26AS AMOUNT OF COMMISSION IS LESS AS COMPARED TO BANK STATEMENT. SHOULD WE TAKE THE AMOUNT FROM BANK STATEMENT
Kamal Verma
(Financial advisor)
(579 Points)
Replied 21 August 2019
Section 194IA relates to TDS on immovable property. TDS on commision comes under section 194H in this case you can claim expenses incurred in earning commission by preparing profit and loss account.
Kapadia Pravin
(17254 Points)
Replied 21 August 2019
CA NEHA
(CA)
(48 Points)
Replied 21 August 2019
Kapadia Pravin
(17254 Points)
Replied 21 August 2019
CA NEHA
(CA)
(48 Points)
Replied 22 August 2019
Still not cleared.... As it is 194IA in 26AS , Can i show this as commision income and claim TDS ?
Whether there are any chance that notice will come for this default
Kapadia Pravin
(17254 Points)
Replied 24 August 2019
Live class on PF & ESI Enrollment & Returns Filing(with recording)
CAclubindia
