Tan no.
Querist : Anonymous
In case of a Cement dealer (individual), who started business in FY 2011-12 and in the same FY his turnover is 1 caror 5 lacs. In this regard I have some following queries -
1. Whether he sould obtain TAN no. to deduct TDS on freight.
2. Whether he has to file form 26Q from the FY 2011-12 or he can stat from 1st quarter of FY 2012-13.
3. In case transporter providing his PAN, or on time freight is under 35000/- then 26Q is reqired to file or not.
Please advise me.
2. Once you obtain TAN then you are liable to file 26q quarterly.
3. yes nil return has to file
Querist : Anonymous
Even after that am I liable to deduct TDS?
As the assessee has commenced business in FY 2011-12 and books are required to be audited u/s 44AB in current year, therefore TDS liability will arises from FY 2012-13 onward.
Further, TDS shall not be deducted on payment to transporter if the transporter provides PAN. However, the TDS return shall be filed mentioning other details of transporter from FY 2012-13 onwards.
Querist : Anonymous
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