08 July 2015
Hello
if any business having Turnover less then 1 crore BT shud be audited BT paying rent for building fr business more then 180000 yearly so TDS deduction is necessary or not ?
08 July 2015
no. TDS is not applicable just because audit has been done. only where turnover crosses Rs 1 cr for business or 1 cr for profession, TDS becomes applicable
10 July 2015
Status of the assessee is to be consider. If assessee is other than individual or HUF it attracts TDS provisions. In case of individual or HUF or AOP, BOI other than those falling under cl. (a)(k) of expl. (i) to sect. 194C, is liable to tax audit u/s. 44AB (a)/(b) during the financial year immediately preceding the financial year in which such sum is credited or paid, shall be liable to deduct income tax u/s. 194C.
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