Good morning, I have been running a marriage hall for a few months now, this business is not registered. I understand i can use ITR-4S (u/s 44AD) for filing returns with my PAN & no service tax applicable yet as the gross receipts still less than 9 lacs.
Could you shed some lights on the following:
1) Should i apply for TAN and report/deposit any TDS, is it mandatory below case? -I have 3 people working(a manager, a watchman, a housekeeper) in the hall, whose individual's payment is still less than Rs. 2 lacs annaul income band (and no TDS) -The annual rent paid to the owner is Rs. 1.8 lacs (and so no TDS)
2) Should i register this business anywhere and get any registration number/ID ?? (i have approvals from municipality/police/fire departments etc)
Thank you for your time/confirming that NO need to apply/get a TAN as long as NO TDS liability arises.
An accountant mentioned that shops (e.g. hair saloons, grocery, restaurants) were hanging TAN/TIN info on their walls, so you should get one too ?! This sounded pretty strange to me and wanted to get expert's confirmation to be on safer side.
CAclubindia
