I am HR at a software firm, it is a proprietary firm owned by a single person with few employees.
The firm develop custom softwares, turnover is less than 1 crore, we pay 58000 per month building rent and spend about 3 lakhs monthly on online advertisements, I think we don't fall under tax audit(Section 44AB). Someone suggested us to start paying TDS on rent and advertisements, earlier we were not aware of section 44AB and started paying TDS from last three months.
My Question: As we think that we are exempted under 44AB can we discontinue paying the TDS now ? If yes is there any specific procedure for that or just simply stop paying, please suggest.
05 May 2014
Thanks sir, as we have submitted/paid TDS of last three months(Jan, Feb and March), what should we do for that?, should we file the TDS return and issue certificates to our ads agency and landlord or is there any procedure for filing TDS refund ?
05 May 2014
Raman for service tax, your actual model needs to be checked...whether or not the same is export of services. a positive assertion cannot be made without a close look at your activities.
CAclubindia
