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Sec 194 C income tax

Vijay Mohan (359 Points)

14 September 2020  
my client sold Rs. 6,50,000 articles of handicrafts to bsnl. they have deducted TDS @ 10%.
In form 26AS the amount was shown. under the head amount paid/credited Rs.6,50,000. was shown. actually it was sales amount. how can we show as an income.

 3 Replies

CA Raj Doshi (Practising CA) (5487 Points)
Replied 14 September 2020

It would form part of your sales turnover figure if you make a P/L

CA NEHA RAMPURIA (Taxation Consultant) (1823 Points)
Replied 14 September 2020

650000 will be included in the turnover , calculate your ne tprofit and income from pgbp . and take refund of your tds

Krishna Chaudhary (Accountant) (4526 Points)
Replied 16 January 2021

So it is a normal business income

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