I just want to know that when a person comes into tax audit bracket , from next year onwards he is liable to deduct TDS .But if suppose next year , he comes out of the tax audit bracket, will he be liable to deduct TDS in the year following the year in which he went out of the tax audit bracket.
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As per my understanding, TDS provisions in case of an individual is applicable if the individual is liable for audit u/s 44AB in the previous year. In case the assessee is not liable for audit u/s 44AB in previous year TDS provisions will not applicable in Subsequent year.
But there are some exeptions to it e.g. TDS on Contractor, TDS on payments made to non - resident........
The audit criteria for deducting tds is checked only for individual and huf not for ALL PERSON,and also some section of tds not all section of tds
plz specify the exact section on which u required clarification.
suppose individual & HUF in financial year 2010-2011 a person is liable for audit, then only in f/y 2011-12 he is liable to deduct TDS.
In sections such as 194I, 194J etc. it has been provided that " Where the payer is an Ind/HUF, the applicability of this section arises only if their sales etc exceeds the limits prescerbed u/s 44AB in the immediately preceding FY"
Thus the section itself gives the answer to ur question. The person is required to deduct TDS only if the turnover etc exceeds the prescribed limit in the PFY.