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Reply to notice received by CSP outlet

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tarun poddar

17 Points Posted on 15 November 2022

Notice received by CSP outlet opened in rural area which has a agrement with SBI for deposit and withdrawl and opening of accont ?

In f/y 17-18 , return not filed with CSP point , total cash withdrawl as per notice received in 3 cr, total commission received 230000 on which tds is also deducted ?

how to reply notice ? my doubt is how to give reply for cash withdrawal ? which itr we will file ? cash deposit or withdrawl is my turnover ? or only commission received is my income ?

Replies (2)

Quick Summary

This discussion addresses a notice received by an SBI CSP outlet regarding significant cash withdrawals and commissions. The core issue is how to correctly respond to the notice, particularly concerning the cash withdrawal figures which are not considered turnover. The advice suggests filing an ITR for the commission earned, deducting relevant expenses, and understanding the applicability of TDS under Section 194H, noting that cash withdrawals themselves are not the outlet's turnover.

Dhirajlal Rambhia

SEO Sai Gr. Hosp.

212475 Points Posted on 15 November 2022

File ITR for the commission received of 2,30,000/- in reply to the notice. Total cash transacted on behalf of bank is not your turnover. Taxable Income can be derived after deducting expenses incurred to earn the commission.