Notice received by CSP outlet opened in rural area which has a agrement with SBI for deposit and withdrawl and opening of accont ?
In f/y 17-18 , return not filed with CSP point , total cash withdrawl as per notice received in 3 cr, total commission received 230000 on which tds is also deducted ?
how to reply notice ? my doubt is how to give reply for cash withdrawal ? which itr we will file ? cash deposit or withdrawl is my turnover ? or only commission received is my income ?
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Reply to notice received by CSP outlet
Replies (2)
File ITR for the commission received of 2,30,000/- in reply to the notice. Total cash transacted on behalf of bank is not your turnover. Taxable Income can be derived after deducting expenses incurred to earn the commission.
Cash withdrawal tds is applicable. exceeded the limit.
sec 194 h is applicable but threshold limits are there.
sec 194 h is applicable but threshold limits are there.
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