Hello,
I run a grocery shop and my turnover is less then 1crore and I want to file income tax return by filling form ITR-4S Sugam to benefit from 44 AD. I also earn small commissions regularly, now my question is how can I declare this commission amount in ITR-4S Sugam form? I know that commissions will not be covered under 44AD but where else I have to put this extra income while filing return?
If it is not your main/regular source of income, it can be assessed under "Income From Other Sources"
"............I receive 100 rupees into my bank account for sale of products ............"
Seems to be trading business.
What is the turnover?
3 / 4 lakhs annualy is the total sale. My supplier is asking for 10% TDS to be paid on the total commission, which I have to reimuburse after supplier submits TDS. So as per supplier I am charging 20% commission on the services given to sell their products where supplier has physical products in warehouse and ships directly to customer and I generate only order. So my question is if supplier 10% TDS deduction is valid in this case ? and how do i show it in ITR-4S form.
Actually, TDS over commission or Brokerage is only 5%.u/s. 194H.
So clarify under what section 10% TDS is to be deducted by your supplier?
It is 10% till 31-5-2016 so I am talking about TDS deduction before this date.
OK, show it under income from other sources (raw B4) in ITR 4S.
Ensure to get TDS certificate from the supplier.
CAclubindia
