Deduction of tds
This query is : Resolved
25 June 2015
Soleproperitor pays interest on unsecured loans should he deduct TDS
25 June 2015
yes if the proprietor is covered under tax audit
25 June 2015
In case of payments made under sec. 194A, 194C, 194H, 194I and 194J in respect of individual and HUF, only if the turnover or professional receipt exceeds sum of Rs. 100 lakh or Rs. 25 lakh respectively in previous year, he is required to deduct tax at source.
Example: Tax Audit is applicable in FY 2013-14 so TDS required to be deducted from FY 2014-15.
Example: Tax Audit is applicable in FY 2013-14 so TDS required to be deducted from FY 2014-15.
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