Applicability of tds
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
20 December 2015
Dear Seniors,
In FY 2014-15 A proprietary firm's turnover was exceed 1 crore therefore this firm is deducting TDS in FY 2015-16, however in this existing FY it's estimated turnover will be below 1 crore, plzz clarify if it's turnover is below 1 crore in FY 2015-16, then will this proprietor ship concern be liable to deduct TDS even in FY 2016-17, or not..
Thanxx in Advance
In FY 2014-15 A proprietary firm's turnover was exceed 1 crore therefore this firm is deducting TDS in FY 2015-16, however in this existing FY it's estimated turnover will be below 1 crore, plzz clarify if it's turnover is below 1 crore in FY 2015-16, then will this proprietor ship concern be liable to deduct TDS even in FY 2016-17, or not..
Thanxx in Advance
20 December 2015
No liability to deduct TDS for FY 2016-17.
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