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Tax deducted at source (Income Tax)

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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



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