Can an “individual” person who has
gross receipts of Rs. 5,40,000 with TDS of Rs.54000
maintain books on cash basis?
(Note : He is not bound to collect/pay service tax as his Total receipts is less than 10lakhs)
Menu
Can a professional maintain books on cash basis?
Replies (2)
yes. one can.
What about TDS deducted ?
In my case should i show it as
A)Gross Receipts Rs.5,40,000 as Income in P&L
or
B) Net Receipts Rs.486000 as Income in P&L
(Rs.486000 = Rs.5,40,000 (-) 10% TDS)
Recent Topics :
- Gst input credit
- CAN PARTNERSHIP FIRM SIGN SERVICE AGGREMENT WITH A
- E-waybill
- Sell of CAFC books
- ITC ON RENT
- GSTR-9 Table 8A Portal and Excel Issues
- IGST on Commercial Rental Income (Different State)
- Revocation of suo moto cancelled GST registration
- Is there any faculty taking chapterwise test in CA
- Late Fees and Interest
Related Topics :
CAclubindia
