Sales of goods of amount Rs77 lakhs to a party
This query is : Open
Quick Summary
ARUN GUPTA
(Querist)
15 August 2026
I have sold goods of more then 77 lakhs by gst invoice in August 2026. Do I require deduction of tds from the party? Please clarify conditions for deduction of tds as sales were made from my gst proprietorship registered form??
15 August 2026
Reporting a Section 50 loss directly in Schedule CG for a depreciable asset is highly irregular and risks automated queries from the tax department, even for 44ADA filers. The legally defensible and structurally accepted approach is to route the sale through Schedule DPM. You can easily do this without maintaining full books by utilizing the "No Account Case" section in Part A-BS to report basic financial summaries, which then allows the loss to auto-populate from Schedule DPM to Schedule DCG, and finally into Schedule CG without triggering schema errors.
15 August 2026
Reporting a Section 50 loss directly in Schedule CG for a depreciable asset is highly irregular and risks automated queries from the tax department, even for 44ADA filers. The legally defensible and structurally accepted approach is to route the sale through Schedule DPM. You can easily do this without maintaining full books by utilizing the "No Account Case" section in Part A-BS to report basic financial summaries, which then allows the loss to auto-populate from Schedule DPM to Schedule DCG, and finally into Schedule CG without triggering schema errors.
ARUN GUPTA
(Querist)
15 August 2026
Where is my querys reply?
16 August 2026
Sorry....
Your GST registration/proprietorship status and ₹77 lakh sales do not themselves create a TDS deduction obligation for you. The crucial question is the buyer's preceding-year turnover (>₹10 crore) and the ₹50 lakh purchase threshold from you.
Your GST registration/proprietorship status and ₹77 lakh sales do not themselves create a TDS deduction obligation for you. The crucial question is the buyer's preceding-year turnover (>₹10 crore) and the ₹50 lakh purchase threshold from you.
ARUN GUPTA
(Querist)
21 August 2026
Buyers turnover is above 10 crores in py and purchase above 50 lakhs .Who and when will be tds deducted?
ARUN GUPTA
(Querist)
21 August 2026
Is it buyers liability to deduct TDS FROM MY PAYMENT? PLEASE GIVE ME THE CRITERIA?
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Tax on Amount transferred in HUF Account
- Nursery business
- Working on Gold wastage during Melting of old gold jewellery
- GST REFUND ISSUE ON PURCHASE OF PLANT AND MACHINERY
- TDS on Dashcam rent and allied services
- Condonation Request sec 119(2) b -Enhancement Limit of Leave Exemption prior to AY 2023
- GST input credit on commercial property
- Section 269ST applicability for capital introduced by partner to his partnership firm
- ETDS return q4 25-26
- Intimation under section 245
- Gift to nri relatives residing in usa
- GSTR-9C filing
- Royalty payments to the Mining Department for procurement of murum - GST input
- HOW TO ADJUST CREDIT NOTE AMOUNT ?
- Import Order Cancelled.
- WRONG GSTR7 ENTRIES ACCEPTED ERRONEOUSLY
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
