Hello,
My client is in the business of CNG Pump Dealership where he has a contract with Mahanagar Gas Limited to fill the CNG in the vehicles.
The bill is raised on Mahanagar Gas Limited and it deducts TDS @ 2% on the basic invoice value.
So, we need an opinion whether he can opt for presumptive income U/s 44AD and file ITR-4 for AY 2018-19?
Thanks & Regards
2% TDS u/s. 194C is deducted, when the deductee is other than individual or HUF
And presumptive assessment is applicable only to individual/HUF/PF.
Is your client partnership firm???
RMA And Associates LLP
New Delhi
CA Inter
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CA Suraj Garg & Associates
New Delhi
CA Final
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CCI
Pro
CAclubindia
