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TDS on Freight

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(Querist)
13 March 2009 Dear All

Please let me Know

1. if it is First year of the Proprietor ship firm i.e F.Y 2008-09 and Sales Exceed Rs 40,00,000/-whether TDS is requried to be deducted on Freight u/s 194C assume that it exceed exempted limit.Last year there were no Sale.
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CA Devanshi Gandhi (Ajani)

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CA Devanshi Gandhi (Ajani) (Expert)
13 March 2009 as its a proprietorship (individual) this year u need not deduct tax but from next year u are required to deduct tax.
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CA. Gurdeep Singh Chawla

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CA. Gurdeep Singh Chawla (Expert)
13 March 2009 TDS liability arise from next year



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Jagdish Bhalia

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Jagdish Bhalia (Expert)
13 March 2009 During the first year you are liable to deduct TDS
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Bhaskaran Chackrapani Warrier

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Bhaskaran Chackrapani Warrier (Expert)
13 March 2009 Agree with Mr. Gurdeep's view.
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CA Nitin Wadhwani

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CA Nitin Wadhwani (Expert)
13 March 2009 From "next year only onwards" you will be "always" liable to deduction of tax.

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