Works contrat


Ilyas A M (Accountant)     14 August 2019

Ilyas A M
Accountant 
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Hi

I want to file an individual return of a person, he is a works contractor in the filed of wall painting, he availed GST RC for the month of Dec-19 and no turnover declared till Mar 19. His total bank receipts for the year 2018-19 is 9lc & odd, his issue is he wants to offer income of approximate 5lc. Please suggest possible solutions.

avater

CA PREM KUMAR (Chunduru & Co)     14 August 2019

CA PREM KUMAR
Chunduru & Co 
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since he availed RC. GST liability will attract for the receipts

and

further return can be filed under section 44AD for income tax purposes.

 

regards

prem

9884343669

avater

Yash Warkari   14 August 2019

Yash Warkari

 2 points

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Is Tds should be deducted at the time of payment of rent for server

avater

CA PREM KUMAR (Chunduru & Co)     14 August 2019

CA PREM KUMAR
Chunduru & Co 
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sir if the rent amount exceeds 2.40 lakhs per anum (FY 19-20), tds is required to be deducted under section 194I

 

for FY 18-19 limit is Rs.180000 per anum.


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