Income Tax Return Filing- Milk

834 views 3 replies
My father collects milk in my village. He gets commission of Rs.1 per litre collected, once in a month. Also for every 15 days Milk Dairy will credit the milk amount to my Dad's Bank account. And he will give that money to the respective farmers based on the Fortnight bill generated. During the Previous year 2020-21 cash withdrawals of milk bills were exceeded Rs. 20 lakhs and Bank had deducted TDS u/s 194N. Milk Dairy also deducted TDS (negligible amount) u/s 194c on the commission amount.TOTAL COMMISSION received during the previous year was Rs.150,000 approx. How to show these transactions in ITR. Please help. Thanks in advance
Replies (3)

File itr 3

Show receipts and profits under no accounts caae
Commission agent can't file ITR 4. he should go with ITR 3. you can show 1.5 Lakhs as business income. put milk revenue under revenue side and milk purchase payments under purchases side and claim other business expenses under expenses under ITR 3. and if there is no other incomes and total income is below 5Lakhs then you can claim TDS deducted by milk dairy and banker as refund.

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Related Topics
Loading
Company
Featured 24 June 2026
HEAD - AUDIT AND TAXATION

A R JADHAV AND ASSOCIATES

Mumbai

CA Inter

View Details
Company
ARTICLESHIP 24 June 2026
CA Article Trainee

Rahul Dang & Associates

Pune

CA Inter

View Details
Company
06 July 2026
Chartered Accountant (Indirect Taxation)

Gowra Ventures Pvt Ltd

Hyderabad

CA

View Details
Company
20 June 2026
Assistant Accounts Manager

Fintax Professionals

Gurgaon

CA Inter

View Details
Company
ARTICLESHIP 30 June 2026
2 posts Article assistant and Articleship completed students

Chirag N Shah & Associates

Mumbai

CA Inter

View Details
Company
05 July 2026
Financial Controller

NovumLake Partners

Mumbai

CA

View Details
Company
29 June 2026
Accountant (Finance & Compliance)

TRIEYEZ

Kolkata

CA

View Details
Company
06 July 2026
Accountant

Agarwal Anoop and Associates

Noida

CA Final

View Details