Hi,
I am doing a business as a distributor and registered in SSI Daily Turnover is 1 Lakh Per day, but the profit of the business is only 0.5%.
Can you please guide me how to calculate the TDS.
Regards
Sham
trueinfos (Student MBA) (26 Points)
21 September 2015Hi,
I am doing a business as a distributor and registered in SSI Daily Turnover is 1 Lakh Per day, but the profit of the business is only 0.5%.
Can you please guide me how to calculate the TDS.
Regards
Sham
Rashi Bajaj
(CA)
(752 Points)
Replied 21 September 2015
What is SSI?
Whose tax you want to deduct?
The turnover, GP details pertain to whom?
Please frame your question properly.
trueinfos
(Student MBA)
(26 Points)
Replied 21 September 2015
Rashi Bajaj
(CA)
(752 Points)
Replied 22 September 2015
You can't deduct your own TDS.
The person dealing with you may deduct your tax at source depending upon the nature of transaction. Since you profit is only 0.5%, you may apply for lower deduction u/s 197 of the income tax act.
trueinfos
(Student MBA)
(26 Points)
Replied 22 September 2015
hi
I need the calculation sheet for computing tds
regards
Shahul
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