Responsibility to deduct tds-194c
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
26 April 2018
Kindly provide me the solution on following issue.
Mr. X is a sole proprietor whose books of accounts were liable for tax audit in FY 15-16 however in FY 16-17 his books were not liable for tax audit.
Whether he is liable to deduct tax in FY 17-18 ? He is liable for tax audit in FY 17-18 as turnover exceeds the tax audit limit in FY 17-18.
He has deducted TDS in FY 16-17 since his books of account were liable to tax audit in FY15-16 (immedediately preceding FY).
Mr. X is a sole proprietor whose books of accounts were liable for tax audit in FY 15-16 however in FY 16-17 his books were not liable for tax audit.
Whether he is liable to deduct tax in FY 17-18 ? He is liable for tax audit in FY 17-18 as turnover exceeds the tax audit limit in FY 17-18.
He has deducted TDS in FY 16-17 since his books of account were liable to tax audit in FY15-16 (immedediately preceding FY).
26 April 2018
no..
you will not deduct TDS on the following payments..
1.Interest paid
2.Payment to contractor and sub-contractors.
3.Commission paid
4.Rent paid
5.Professional fees and technical fees paid.
you will not deduct TDS on the following payments..
1.Interest paid
2.Payment to contractor and sub-contractors.
3.Commission paid
4.Rent paid
5.Professional fees and technical fees paid.
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