Regarding TDS deduction on payments

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This discussion clarifies TDS deduction responsibilities for individuals filing under Section 44AD. If your turnover exceeded ₹1 crore in AY 2023-24, you were technically liable for TDS deductions, even if you weren't subject to a tax audit. For AY 2024-25, with turnover exceeding ₹10 crore, a tax audit is compulsory, and you are definitely liable for TDS deductions on expenditures.

Jaswinder singh

Jaswinder singh (Querist)
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27 March 2024 Respected Sir/Madam,
If Individual person filed ITR of AY 2022-23 and AY 2023-24 under Presumptive Basis u/s 44AD and his turnover 1.25 Crore and 1.33 crore respectively, Now in AY 2024-25 his turnover exceeds 10 crore now tax audit compulsory for him.

My ques is, whether Individual assessee liable to deduct TDS on expenditure booked in AY 2024-25 because in his 2 previous ITRs of AY 2022-23 & AY 2023-24 there is no audit case and we didn't deduct TDS, but turnover exceeds 1 crore

Now whether we liable or not in AY 2024-25??

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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28 March 2024 In AY 2024-25 you are liable for TDS deduction.

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Nikhil Kaushik

Nikhil Kaushik (Expert)
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28 March 2024 well, technically, you were liable to deduct TDS in AY 2023-24 too.

Read second proviso to Section 194J, explanation to section 194c etc etc.

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