Taxation under Section 44AD for TDS

This query is : Resolved

Elbin (Querist)
Follow

12 March 2024 My company has opted U/s. 44AD & net turnover for the year is ₹10Lakhs in which payment rec'd via bank channel (Online & Cheque) is ₹6.5Lakhs + Cash - ₹1Lakh + TDS - ₹20K + Bad Debts - ₹13K & Outstanding is ₹2.17Lakhs.

Please guide in which tax slab (6% / 8%) I have to put TDS, Bad Debts & Outstanding amount.

RAJA P M

RAJA P M (Expert)
Follow

13 March 2024 6% For receipt through banking mode. 8% for cash receipts.

Elbin

Elbin (Querist)
Follow

13 March 2024 & what about part payment rec'd in bank & balance in TDS ?

RAJA P M

RAJA P M (Expert)
Follow

13 March 2024 That's also a digital mode receipt of amount and balance is TDS. It's not cash transactions.

Elbin

Elbin (Querist)
Follow

13 March 2024 @ RajaThanks for the clarification

Aashok Kumar Sharma

Aashok Kumar Sharma (Expert)
Follow

16 August 2025 Please note that opting for the presumptive scheme under Section 44AD does not exempt one from TDS obligations. If you are required to deduct tax under any TDS provisions (such as salary, contractor payments, rent, etc.), you must continue to do so—even under the presumptive regime.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now