Applicability of TAN
This query is : Resolved
27 September 2008
Dear Sir,
I am confused that I am working in Trading co. They have to pay commission to person but this amount is more than the amount applicable for TDS. but they have just started business.when can we apply for TAN.is it necessary to apply for TAN in this year.I feel that when our turnover is cross the limit of 40 lakh then we can apply for TAN in the next year. Is it true?
Pls send me your openion immidiately
I am confused that I am working in Trading co. They have to pay commission to person but this amount is more than the amount applicable for TDS. but they have just started business.when can we apply for TAN.is it necessary to apply for TAN in this year.I feel that when our turnover is cross the limit of 40 lakh then we can apply for TAN in the next year. Is it true?
Pls send me your openion immidiately
CMA Jitendra Singh
(Expert)
27 September 2008
You have written status as Company under companies act 1956 so you must apply for TAN and deduct TDS
27 September 2008
To apply for TAN why are you waiting for the turnover to cross Rs.40 lacs.
U have statutory obligation to deduct tax if the minimum prescribed limit is crossed in a year; under various section for various payment.
To know the rate of deduction for various assessee please raise another query..!
all the best and
God BLESS u
U have statutory obligation to deduct tax if the minimum prescribed limit is crossed in a year; under various section for various payment.
To know the rate of deduction for various assessee please raise another query..!
all the best and
God BLESS u
29 September 2008
Dear sir,
If it is a properietory firm,then what is the procedure for TAN. they just started business.is it necessary to apply for tn
If it is a properietory firm,then what is the procedure for TAN. they just started business.is it necessary to apply for tn
29 September 2008
Dear sir,
If it is a properietory firm,then what is the procedure for TAN. they just started business.is it necessary to apply for tn
If it is a properietory firm,then what is the procedure for TAN. they just started business.is it necessary to apply for tn
CMA Jitendra Singh
(Expert)
30 September 2008
Hi Mahesh,
See first you estimate in which FY your turnover will cross threshold limit Rs.40 L ,in that FY u are suppose to deduct TDS after apply for TAN.
See first you estimate in which FY your turnover will cross threshold limit Rs.40 L ,in that FY u are suppose to deduct TDS after apply for TAN.
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