asheeq ua (ca ipcc) (313 Points)
03 December 2018Hello experts, One of my client is Bidi Munshi (Contractor) so what is the nature of business should i show ? Tds is deducted U/s 194c. But he is getting income as commission from contractor it seems. Little confused Kindly help me out. Whether 44AD is opted ?
Regards,
Asheeq Abubaker
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(166424 Points)
Replied 03 December 2018
Check the nature of receipts. If gross receipts base on goods suppliedm you can opt for sec. 44AD. TDS u/s. 194C will be in its favour.
But if pure commission received over any job, you cannot.
asheeq ua
(ca ipcc)
(313 Points)
Replied 03 December 2018
Sir i guess it is like job work. so what should i do ? they are not maintaining any books of accounts. Can i file itr by preparing P&L A/c and B/s ? But he is not having any supporting doccument. And one more thing is What is the nature of Business ? Please guide me Sir
Awaiting for your reply
Asheeq Abubaker
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(166424 Points)
Replied 03 December 2018
:"Can i file itr by preparing P&L A/c and B/s ?"
Yes, better option. Also check the contract or the details of bills raised.
What is the amount of gross receipts?
asheeq ua
(ca ipcc)
(313 Points)
Replied 03 December 2018
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(166424 Points)
Replied 04 December 2018
Even if you file return u/s. 44AD it will be processed, but legally you should file return with books, and try to collect missing vouchers.
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