Tax deducted at source

This query is : Resolved 
 

(Querist) 05 June 2012

Individual Assessee had the turnover of Rs.80Lacs during F.Y 2011-12. however during F.Y.2012-13 the turnover will be below 100 Lacs. i.e.he will not be covered under tax audit u/s 44AB. Sections 194A, 194C, 194H,194J etc. states that assessee is liable to deduct TDS if he was covered u/s 44AB in immediately preceeding previous year. whether the assessee in this case will be liable to deduct TDS during the F.Y 2012-13?
Please provide particular reference & notification relating to this, if any as a base for argumant with A.O.



C.A Anshul Singhal (Expert) 05 June 2012

Tds Will be deductable for individual on the basis of last financial turnover/gross receipt.
you are liable for deduct tds now.

Dhokia Hardik (Querist) 03 July 2012

Thank You



You need to be the querist or approved CAclub expert to take part in this query .


Click here to login now


Similar Resolved Queries :






close x