Tds query?

My assessee DTH (REPAIR AND MAINTAINANCE ) service HE form 16a reced. income shown amt. 600000/- tds deduct amt. 20000/-  he fully amt. recd. with check from company  but actually he recd. amt.income 600000 * 30% = 180000/- only remain balance  he paid to DTH distributors 60% amt

MY QUESTION :

IF FILE INCOME FULLY SHOWN OR 30% ONLY 

 

PLEASE URGENT

Replies (3)
Originally posted by : vinoth TAX PRACTIONER

My assessee DTH (REPAIR AND MAINTAINANCE ) service HE form 16a reced. income shown amt. 600000/- tds deduct amt. 20000/-  he fully amt. recd. with check from company  but actually he recd. amt.income 600000 * 30% = 180000/- only remain balance  he paid to DTH distributors 60% amt

MY QUESTION :

IF FILE INCOME FULLY SHOWN OR 30% ONLY 

 

PLEASE URGENT

1) his bills are 6 Lacs ......TDS decucted may be 2% sec 194C..........please furnish the sec under which TDS is deducted.

2) his turnover is 6 lacs ........irrespective of his expenditure paid to others, ( he may have to deduct TDS to 70% outgo of his receipts subject to eligiblity)

3) turnover is gross receipts,  while the net profit will arrive after adjusting all expenses.

DEAR SIR,

MY CLIENT ACTUAL RECD.   294893.00   (30%)

 PAID TO   SUB DEALER     :  688084.00   (70%)

TOTAL INCOME                    :   982977.00    (100%)  (as per form 16a)

 

Tds Amt.     2%    : 19659

 

 

( "Turnover is gross receipts,  while the net profit will arrive after adjusting all expenses".)


 
HE CASH PAID TO  SUB DEALER  AGAINST WITHOUT VOUCHER

HOW TO REFUND CALCULATION FULL AMT. 19659/-
 
 

 

 

 

Originally posted by : vinoth TAX PRACTIONER

DEAR SIR,

MY CLIENT ACTUAL RECD.   294893.00   (30%)

 PAID TO   SUB DEALER     :  688084.00   (70%)

TOTAL INCOME                    :   982977.00    (100%)  (as per form 16a)

 

Tds Amt.     2%    : 19659

 

 


( "Turnover is gross receipts,  while the net profit will arrive after adjusting all expenses".)




 

HE CASH PAID TO  SUB DEALER  AGAINST WITHOUT VOUCHER




HOW TO REFUND CALCULATION FULL AMT. 19659/-

 

 


 

 

 

paying 6 lacs to sub dealer in CASH without voucher even ..................... how to establish the expenses? what is the purpose and why the payment is made tby  other than bank? get statement of their so called sub dealers to make confirmation atleast that they ahve received the amount for certain purpose, it will replace the gap of non presence of payment voucher, in absence of such documetns such expenses are not admitted.

 

whole the amount so arrived as per form 16A is liable to tax in absence of proper records

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