I have started my own sole proprietary firm and my turnover for FY 2017-18 will be 50 lakhs, I have applied for TAN & received the same in the month of Feb,2018.I was not aware that who's turnover is less than 1 crore for them tan is not mandatory. Now i have TAn no , so i need to deduct TDS on my transaction.
17 March 2018
If you have payment which you need to deduct as per Various section considering Limit for which tds applicable, If TDS not applicable no need to deduct TDS.
19 March 2018
Dear Sir, I just have one employee to whom i pay salary of 50k , so do i need to deduct tax as my turnover will be 50,00,000 for FY 17-18 & may Business transaction is almost below 20,000.
CAclubindia
