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Refund of tds

Others 195 views 5 replies
Client is transport contracter. Aur uske pas 4 truck h. Client ka apna ek office h. Mtlab y 4 truck chalane ke liye usne driver rakhe h. Client ka 194C me tds kat gya.aur use refund chahiye. Please suggest nature of buisness code. Aur uski return 44AD me file ho skti h kya
Replies (5)
No, transporter k return 44AD me nhi sirf 44AE me file ho skti hai... provided ki uske pass uss p.y. me 10 se jyada truck na ho
Saurabh sir, 44AE se refund aa jayega 194C ka
Yes, of courses. Fill truck income in 44AE. Even u can avail refund if tds.

Solution Plz....

One of my client having actual T/over from Transport Business of Rs 1.80 Crore (as per bank records) along with Capital loss on sale of Shop, & willing to file his Return under Sec 44AE (he is showing higher than prescribe income u/s 44AE with less than 10 vehicles),, so that no Tax Audit will required..., Although Presumptive Income sec 44AE comes under ITR 4 (AY 18-19), but my software prescribe  ITR 3 due to capital loss, along with P& L / Balance Sheet details (under "No complete sets of Accounting Records are Maintain") , my query is whether showing Income under ITR 3 will required Tax Audit or not as Income is above Rs 1 Crore but below Rs 2 Crore. 

Immediate Response is Highly Appreciated...
 

M also confused about it... plz post dis query on query session to get better advice from our cci experts


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