Claim of tds under section 194Q

[Rakesh Bansal]

Sir, my client is a commission agent (Kacha Arhatiya) and is in business of selling agriculture crop on behalf of the farmers. During fy 2021-22, their sales of crop exceeded Rs.1.50 Crore and the buyer of crop made deduction of tax at source in accordance with the provisions of section 194Q.

As a matter of fact/law the turnover in the case of such type of commission agent is the receipt of commission alone. The other amount pertaining to the value of goods has been excluded from the amount of turnover.

My query on the issue is that how to claim and reflect the amount of TDS in the return of income and also how to match it with the turnover in the schedule of TDS. Hope my question will be clear.

AI Summary

TDS under section 194Q: claiming credit and reporting when a commission agent's turnover excludes goods value. Buyer deducted tax under section 194Q on purchases of agricultural produce from a commission agent whose sales exceeded the threshold. The agent asserts that turnover for business purposes comprises commission receipts only, excluding the value of goods. The core query asks how to claim and reflect the TDS deducted by the buyer in the return of income and how to reconcile that TDS within the return's TDS schedule when the reported turnover is commission only.