Deduction of TDS
This query is : Resolved
17 April 2016
Mr X maintans books on cash basis. He earns professional income. He wants to make a payment amounting to Rs. 120000 in the year to a single party as professional charges in relation to his own business.
Can Mr X get away without deducting TDS just because he is maintaining books on cash basis ?
If not, there any other alternative way for him to get this expense allowed without deducting TDS?
18 April 2016
Party has to deduct tds on Professional charges (fees). you can claim refund or set off against your tax liability there is no issue with that.
02 May 2016
if you are liable to take audit your books u/s 44AB. then you have to deduct the tds. otherwise not required to deduct tds.
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