Is it necessary to take tan for start-u proprietorship firm

This query is : Resolved

Soma Halder (Querist)
Follow

21 May 2016 Hi,

I have started a small HR consulting firm last month, I have service tax no. too. Now should I take TAN no. too.
What is the minimum or maximum limit when TAN no. is mandatory.
kindly advise. as currently no as such revenue has generated.

Regards,
Soma

Naresh Dharia F.C.A.

Naresh Dharia F.C.A. (Expert)
Follow

21 May 2016 Usually the TAN is to obtained in case u earn ur professional receipts more than Rs 25 lacs....(Now it is Rs 50 lacs)....
As such this being your first year ...I do not advise ...later on U may apply for TAN...
Once TAN is allotted ...You ought to file the TDS returns on quarterly basis...No matter it is NIL, if at all....
ok

Soma Halder

Soma Halder (Querist)
Follow

21 May 2016 Thanks Mr. Naresh, shall I make payments from my current account without deducting TDS for the services/ Expenses made for the business.

Abhishek Ranjan Singh

Abhishek Ranjan Singh (Expert)
Follow

21 May 2016 Yes you can till your gross received in a previous year exceed is below the Tax Audit limit (Rs.25 Lakhs and now from 1st April, 2017 it is Rs. 50 Lakhs for every person carrying on a profession.

Abhishek Ranjan Singh
ARS Solutions
www.arssolutions.co.in
+919022838615

Note : If you find our reply useful. Please Score us by clicking on "THANK USER"

Message likes : 5 times

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now