About tan no

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Querist : Anonymous

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Querist : Anonymous (Querist)
17 March 2017 when is individual liable to take TAN no??
what is the limit of gross receipt/ turnover in FY
IN WHICH YEAR WE HAVE TO FILE TDS RETURN?

17 March 2017 If you are paying amount under various heads if Threshold limit exceeds, than TDS applicable.

It is compulsory for tax audit assassee if payment made above Threshold limit to deduct applicable TDS.
TDS is applicable in the year in which payment exceeds threshold limit prescribed under various section. TDS is applicable on Payment or bill whichever is earlier. So TDS to be paid within 7th of subsequent month and quarterly return to be submitted, other wise 234E Late fee Rs.200 or Maximum Tds amount whichever is less applicable.

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Querist : Anonymous

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Querist : Anonymous (Querist)
18 March 2017 THANK YOU SIR,
BUT I WANT TO KNOW, WHEN I SHOULD AS AN INDIVIDUAL SHOULD APPLY FOR TAN NO.??
TAX AUDIT LIMIT FOR TAKING TAN NO????

19 March 2017 You have to deduct tds by applying tan when you are under tax audit. tax audit limit is prescribed by ITD. Now tax audit is not subject to prescribed limit.


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