Sec 194 C income tax

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673 Points Posted on 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.
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On 14 September 2020 at 17:50 Report
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A client sold Rs. 6,50,000 worth of handicrafts to BSNL, with TDS deducted at 10% under Section 194C. This amount should be included in the sales turnover for profit and loss calculations. The deducted TDS can then be claimed as a refund.

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Practising CA
8954 Points Posted on 14 September 2020
It would form part of your sales turnover figure if you make a P/L
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On 14 September 2020 at 20:22
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Taxation Consultant
1823 Points Posted on 14 September 2020
650000 will be included in the turnover , calculate your ne tprofit and income from pgbp . and take refund of your tds
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On 14 September 2020 at 20:55
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Accountant
4533 Points Posted on 16 January 2021
So it is a normal business income
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On 16 January 2021 at 22:13

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