INCOME TAX RETURN QUERY

treat it as a normal business income.All relatable expenses can be deducted.the net income earned should be taxed.

BUT IN FORM 26AS THE TOTAL COMMISION SHOWS DOES NOT MATCH WITH THE TDS CERTIFICATES THERE IS A DIFFERENCE OF 10 LAKHS.

PLS. SUGGEST ME HOW TO TREAT THIS CASE.

I SHALL BE VERY THANKFUL TO YOU.

assumed that the form 26AS is on higher side, and the diff arise due to price variation of forex.

Make a sheet in chronologial order ( date wise) as per 26AS and show the diff as forex diff, its allowed as business expenditure in profit and loss account, provided u have to preserve the documents evidencing the charges and rate diff to reconcile the facts.

PLS. EXPLAIN CLEARLY.

BUT IN FORM 26AS THE TOTAL COMMISION SHOWS DOES NOT MATCH WITH THE TDS CERTIFICATES THERE IS A DIFFERENCE OF 10 LAKHS.

diff of 10 lacs + or (-)?

IN TDS CERTIFICATES THERE IS A COMM OF ONLY RS 500000.

There is possibility that the client has 2 to three sites from where he is receiving commission. As the client to give all the TDS certiciates issued in his name.... u will get a clear picture wher the diffence is coming.

as u have mentioned 1.5 cr total commission income on which 10% TDS deducted , again u clarified that diff of 10 lacs om form 26AS, and now form 26 AS has only 5 Lacs commision income in place of 1.5 cr? 

please go through the all documents and recollect the whole account, coz this way nothing will emerge as solution.