i was in audit during Fy 2015-16
but in Fy 2016-17 not in audit so i have to deduct tds in Fy 2017-18???
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Deduction of TDS
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An individual is exempt from deducting TDS under section 194A/C/H/I/J, if tax audit was not applicable during the F.Y. immediately preceding the F.Y. in which income is paid/credited.
[Reference: Proviso to Sec. 194A(1), Explanation(i)(l)(B) to Sec. 194C(7), Second Proviso to Sec. 194H, Second Proviso to Sec. 194I, Second Proviso to Sec. 194J(1).]
But no such exemption criterion is available in case of section 192. TDS shall be deducted in any case, if the salary paid exceeds the basic exemption limit.
yes deduction from salary is mandatory for all.
but PARTNERSHIP FIRM IS NOT EXEMPT.
IT HAS TO DEDUCT TDS IF PAYMENT CROSSES THE THRESHOLD i.e. 10000/- for commission or brokerage
IT HAS TO DEDUCT TDS IF PAYMENT CROSSES THE THRESHOLD i.e. 10000/- for commission or brokerage
Yes. You can deduct TDS....
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