Submiting response
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
03 March 2017
Dear sir,
suppose a retailer has deposited rs 5 lacs of retail sale consideration then he should submit this amount in identified person or in unidentified person column? As there is no separate column for retail sale consideration.
please advise me.
suppose a retailer has deposited rs 5 lacs of retail sale consideration then he should submit this amount in identified person or in unidentified person column? As there is no separate column for retail sale consideration.
please advise me.
03 March 2017
If all sales made against proper invoices issued, it should be under identified column.
26 July 2025
In the context of cash deposit reporting or declaration forms (like in tax or financial compliance), **retail sale consideration** is generally considered as income from a known source—i.e., the retailer’s business revenue from identifiable customers.
So, **the Rs. 5 lakhs retail sale consideration should be reported under the "Identified Person" column**, assuming these sales are recorded and the customers are known or the sales are invoiced properly.
The "Unidentified Person" column is usually meant for cash received from unknown or unverified sources (like unexplained cash deposits, or anonymous transactions).
**Summary:**
* Retail sale consideration = **Identified Person** column
* Unidentified cash = Unidentified Person column
If the form doesn’t have a separate column for retail sale consideration, just treat it as normal business income and report accordingly.
If you want, I can help draft a clear response for you!
So, **the Rs. 5 lakhs retail sale consideration should be reported under the "Identified Person" column**, assuming these sales are recorded and the customers are known or the sales are invoiced properly.
The "Unidentified Person" column is usually meant for cash received from unknown or unverified sources (like unexplained cash deposits, or anonymous transactions).
**Summary:**
* Retail sale consideration = **Identified Person** column
* Unidentified cash = Unidentified Person column
If the form doesn’t have a separate column for retail sale consideration, just treat it as normal business income and report accordingly.
If you want, I can help draft a clear response for you!
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
- Opting our of sec 44AD
- Form 121 & TDS deduction
- GST Treatment of Insurance Commission for Existing GST Holder
- SALE OF MOTOR CAR BY REGISTERED INDIVIDUAL
- Regarding appeal to GSTAT
- Invoice V/S Goods receipt Note Date
- Multiple trade mark
- Transporter Declaration form
- LC charges in relation to Asset purchased should be Capitalised ?
- TDS LATE PAYMENT
- Cash gift by grand mother to her grand daughter
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
- No Compliences after incorporation
- USEFUL LIFE OF USED/SECOND HAND COMMERCIAL VEHICLES
- Claiming TDS deducted by builder on Hardship compensation and Corpus
- Address Change to another state of a Registered Trust with 12AB approval
- Updated return in budget 2026
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
