Query about tds deduction liability arise
This query is : Resolved
30 December 2014
SIR,
AN INDIVIDUAL IS NEVER COME IN AUDIT IN ANY FINANCIAL YEAR AND IN THE A.Y.2014-15 , HE HAS CLAIMED THE COMMISSION EXPENSES ABOVE RS.5000,PAYMENT TO A SINGLE PERSON. WHETHER IT IS ALLOWED TO CLAIM THE EXPENSES.
AN INDIVIDUAL IS NEVER COME IN AUDIT IN ANY FINANCIAL YEAR AND IN THE A.Y.2014-15 , HE HAS CLAIMED THE COMMISSION EXPENSES ABOVE RS.5000,PAYMENT TO A SINGLE PERSON. WHETHER IT IS ALLOWED TO CLAIM THE EXPENSES.
30 December 2014
In this case when in previous year the indivisual was not liable for tax audit then in current year no need to deduct tds u/s 194H even if commision amount claimed is more then Rs.5000, hence it will be allowed as deduction in your profit and loss a/c.
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30 December 2014
Since the Individual was not under Tax Audit in Previous Financial Year he is not required to deduct TDS. So he can claim the expenses if his source of Income is Profit and Gains of Business & Profession. No disallowance due to non deduction of TDS.
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Rupesh Jain
(Expert)
30 December 2014
if he is HUF and individual and in last year on audit case then no tds will applicable.
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30 December 2014
Dear Tushar you had asked a question and you have changed your reply after observing my reply. Modify option is allowed for minor modification not for changing the reply completely after knowing the correct reply.
Hope you take the point in a positive manner.
Hope you take the point in a positive manner.
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31 December 2014
THANKS TO SOLVING MY QUERY.
06 January 2015
THANKS TO ALL OF YOU FOR REPLY.
THANK YOU VERY MUCH...
THANK YOU VERY MUCH...
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