TAN Applicability For Individual & HUF
This query is : Resolved
04 February 2025
Respected Sir
in case of Individual & HUF When it Compulsory to obtain TAN ?
Some Consultant Said it is based on t/o and Some said it is based on Audit
now if it is based on audit than
44ABa-Clause 44AB(a)- Total sales/turnover/gross receipts of business exceeding specified limits;
44ABe-Clause 44AB(e)- When provisions of section 44AD(4) are applicable;
if t is based on audit than both Section of Audit TAN is applicable or Only 44AB(a) Audit applicable for TAN Requirement
in case of Individual & HUF When it Compulsory to obtain TAN ?
Some Consultant Said it is based on t/o and Some said it is based on Audit
now if it is based on audit than
44ABa-Clause 44AB(a)- Total sales/turnover/gross receipts of business exceeding specified limits;
44ABe-Clause 44AB(e)- When provisions of section 44AD(4) are applicable;
if t is based on audit than both Section of Audit TAN is applicable or Only 44AB(a) Audit applicable for TAN Requirement
04 February 2025
TDS is applicable if business turnover exceeded 1 Cr. in preceding year, for certain specific sections. (like professional fees etc.) Other than those if TDS is mandatory to deduct (like Salary) TAN becomes mandatory.
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08 February 2025
Respected Sir
So its mean if any person T/o is more than 1 Crore in Preceeding Finacial Year AND TDS Deduct Liability
( Payment Exceeding Threshold limit) Both Event is there , then only TAN is Required
So its mean if any person T/o is more than 1 Crore in Preceeding Finacial Year AND TDS Deduct Liability
( Payment Exceeding Threshold limit) Both Event is there , then only TAN is Required
08 February 2025
Yes, in that case TAN is required for TDS deduction and depositing the same to treasury.
11 February 2025
Thanks a lot sir for your quick responses
11 February 2025
You are welcome.
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