07 May 2013
For e.g I am Proprietor My T/o is Rs.65 lac in the FY-2011-12 means I am Liable for Tax Audit u/s 44AB and I have to Deduct TDS in FY-2012-13.
My question is now that if My T/o is Less than 1 cr in FY-2012-13 then whether I have to require to TDS in Subsequent Year?
08 May 2013
For the purpose of sec 194A, 194C, 194H, 194I and 194J of TDS, Individual or a HUF if 44AB limit is not crossed in the preceding FY then no need to deduct TDS. but for Partership firm and company irrespective of turnover limits provisions of section will aply.
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