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TDS deduction under section 194C (Income Tax)

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( Author )
14 April 2011

one of my client is sole properitor, his turnover is 30 Lakhs,he makes payment to one contractor of 1.5 lakhs, should he deduct TDS?

ca cs shriyans jain

( Expert )
15 April 2011

If his Last yr turnover doesnt exceed 40 lacs then not requird to deduct TDS. U/s 194C

CMA. Subhash Kumar Jha

( Expert )
15 April 2011

If the previous year (FY 2009-10) turnover was below 40 Lacs, then there is no need to deduct TDS.


( Author )
16 April 2011

dear sir,

Is this concludes that if the sole properitorship concern doesn't required for the Audit of Accounts, then he is not liable to deduct TDS U/s 194C

Sir plz state the reason Also.......

CA. Krishna K Neeraj

( Expert )
19 April 2011

W.e.f. 01/10/2009, provisions of section 194C has been changed. Now, in your clients case, TDS is required to be deducted as no exemption to Individual having business income is available.


( Author )
20 April 2011

But in Section 194C it is written that, individual and HUF whoe's Accounts are Audited have to deduct TDS.

So,if sole properitor concern having turnover of 30 lakhs that means it does not require to deduct TDS..

plz suggest the query..........



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