194i

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Prerna (Querist)
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26 September 2015 Good evening,QueryWhether a sole proprietor is required to deduct tds u/s 194i his income is less than persumed income u/s 44 ad. Rent paid is also above 180000

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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26 September 2015 No need for TDS as his turnover is less than than the limit as per 44AB.

Prerna

Prerna (Querist)
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26 September 2015 But sir individual is liable to deduct tds if he gets his accounts audited during preceding previous year

Prerna

Prerna (Querist)
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26 September 2015 Also audit done under 44ab covers if books are audited if income is less than 8 of persumptive income

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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27 September 2015 No TDS for such audits.....

Prerna

Prerna (Querist)
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27 September 2015 Sir is this exception mentioned somewhere?

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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27 September 2015 Turnover should exceed as per limit prescribed u/s 44AB(a) or 44AB(b).

Prerna

Prerna (Querist)
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28 September 2015 Actually sir i am not able to understand why tds is not to be deducted

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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03 October 2015 As the turnover is less than 1 crore no need to deduct TDS. The dept's intention is to put the burden of TDS on big business only.

Prerna

Prerna (Querist)
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04 October 2015 Thank you sir.. For being so co-operative

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