Tan no for proprietor

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

14 January 2012 WE have a group of companies.
The turnover of the proprietory firm is about rs.25,00,000 annual.
We do have a old tan no.
Can we apply for new tan no?
As per our CA since our turnover is below RS.60,00,000/- we need not deduct TDS & secondly since we do not deduct tds we neednot apply for new Tan otherwise we have to file yrly blank return.

How far this is proper.

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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14 January 2012 Who shall deduct tax at source?
Every person responsible for making payment of nature covered by TDS provisions of Income Tax Act shall be responsible to deduct tax.
However in case of payments made under sec. 194A, 194C, 194H, 194I and 194J in respect of individual and HUF, only if the turnover or professional receipt exceeds sum of Rs. 40 lakh or Rs. 10 lakh respectively (the limits is Rs.60 Lakh or Rs. 15 Lakh respectively w.e.f. 01.04.2010) in previous year, he is required to deduct tax at source.

So in case even if in any earlier year your file was subject to Tax Audit you need to deduct TDS. Further no need to obtain new TAN if you already have a TAN for the assessee.

Also filing NIL TDS return is not mandatory even if you have a TAN.

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