Foreign exchange agent
This query is : Resolved
MOHIT SHARMA
(Querist)
27 September 2015
SIR I AM A COMMISSION AGENT OF WESTERN UNION, SIR I HAVE GOT COMMISSION OF rS.250000.
ON WHICH TDS IS DEDUCTED RS.25000.
I WANT TO KNOW THAT WHETHER MY COMMISSION WILL BE REGARDED AS GROSS RECEIPTS OR WHETHER TOTAL AMOUNT OF EXCHANGE WILL BE REGARDED AS GROSS RECEIPTS.
MORE OVER WHETHER I WILL BE LIABLE FOR TAX AUDIT OR I CAN SIMPLY FILE ITR-4 TAKING MY COMMISSION AS GROSS RECEIPTS.
ON WHICH TDS IS DEDUCTED RS.25000.
I WANT TO KNOW THAT WHETHER MY COMMISSION WILL BE REGARDED AS GROSS RECEIPTS OR WHETHER TOTAL AMOUNT OF EXCHANGE WILL BE REGARDED AS GROSS RECEIPTS.
MORE OVER WHETHER I WILL BE LIABLE FOR TAX AUDIT OR I CAN SIMPLY FILE ITR-4 TAKING MY COMMISSION AS GROSS RECEIPTS.
CA R SEETHARAMAN
(Expert)
27 September 2015
Your commission will be regarded as gross receipts. You are not liable for tax audit. File simply ITR 4.
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