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

Agent Seeks Guidance on Claiming TDS Under Section 194Q for Sales Over Rs.1.50 Crore in 2021-22 Fiscal Year A commission agent involved in selling agricultural crops on behalf of farmers reported sales exceeding Rs.1.50 Crore during the fiscal year 2021-22. The buyer deducted tax at source per section 194Q. The agent seeks guidance on how to claim and reflect this TDS amount in the income tax return, considering that only the commission received, not the total sales value, constitutes their turnover. They also need advice on aligning this with the turnover in the TDS schedule.