Radhika Ajmera (CA IN practice) (163 Points)
03 October 2018my client has tds u/s 194 IA on total amount of rs 8500000 on p&m
how to file his return whether to file on presumptive basis if yes then can we declare 8% profit or we go with audit option
please reply
Anirudh
(Student)
(299 Points)
Replied 03 October 2018
harsha
(Article)
(208 Points)
Replied 03 October 2018
Anirudh
(Student)
(299 Points)
Replied 04 October 2018
A B Kundu
(Professional)
(1422 Points)
Replied 04 October 2018
Your client has tds credit U/s 194IA, that means he is the seller of immovable property, right? So, in this case Capital Gain would arise.
Does your client have other business income or other sources income? If his income consists only this Capital Gain, then Sec.44AD as well as Sec.44AB doesn't attract at all. No question of presumptive taxation or tax audit arises. Just file the return declaring the capital gain details.
Radhika Ajmera
(CA IN practice)
(163 Points)
Replied 04 October 2018
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