Nil turnover
This query is : Resolved
08 July 2019
Sir, There is Nil Turnover during the year 2018-2019 of a contractor.
Amount received from party is shown in 26AS under u/s 194C as RS 555,576/- and TDS of 5555/-deducted in this amount .
Sir , My qns is , at the time of filing TDS of Rs 5555/- details in ITR, It is asking corresponding Income offered.
Sir , there is No business Turnover for FY 2018-2019.
Sir , which amount and under which head, corresponding Income offered to report in ITR.
Amount received from party is shown in 26AS under u/s 194C as RS 555,576/- and TDS of 5555/-deducted in this amount .
Sir , My qns is , at the time of filing TDS of Rs 5555/- details in ITR, It is asking corresponding Income offered.
Sir , there is No business Turnover for FY 2018-2019.
Sir , which amount and under which head, corresponding Income offered to report in ITR.
08 July 2019
Consider Rs 555,576/- as business turnover and declare 8% profit under 44AD and file ITR 4 you will get full tds refund
08 July 2019
Sir, In GST there is Nil turnover. And Sir, In Income tax ,If I will show turnover , whether there will not be difference.Plz advise
09 July 2019
Show the difference in reconciliation.
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