My Income is mainly from investments, like dividend & bank interest. Annually it is below Rs 150000 only. I do not file any ITR now, as my income is below taxable limit. I am not a senior citizen. I am acting as a stock broker's authorised person, which has a very very low commission income of not more then Rs 15000 per year. Now this time, I have received a commission of Rs 7300 for which TDS @ 5% is deducted [ Rs 453 ]. Now I wish to know that is this GST deduted or the normal TDS like banks deduct? I do not wish to involve in GST trouble, as my total income and commission income is very low. I have following 3 small queries. If any one can help then I will get some knowledge.
1. Is this GST Deducted? Do I need to file GST return?
2. If GST or TDS whatever is deducted and if I do not file ITR what will be the impact?
3. Can I file ITR and claim this refund as TDS is deducted?
Please guide me urgently, as I need to decide whether I wish to continue with this commission income or not? Thank you. Regards.
CAclubindia
