Tax deducted at source
This query is : Resolved
05 June 2012
Individual Assessee had the turnover of Rs.80Lacs during F.Y 2011-12. however during F.Y.2012-13 the turnover will be below 100 Lacs. i.e.he will not be covered under tax audit u/s 44AB. Sections 194A, 194C, 194H,194J etc. states that assessee is liable to deduct TDS if he was covered u/s 44AB in immediately preceeding previous year. whether the assessee in this case will be liable to deduct TDS during the F.Y 2012-13?
Please provide particular reference & notification relating to this, if any as a base for argumant with A.O.
Please provide particular reference & notification relating to this, if any as a base for argumant with A.O.
06 June 2012
NO ARGUE, ASSESSEE IS UNDER AN OBLIGATION TO DEDUCT TDS DURING THE F.Y. 2012-13 UNDER VARIOUS SECTION AS YOU MENTIONED.
06 June 2012
Dear Hardik,
The previous F Y is 2011-12 i.e. under tax audit, therfore in FY 2012-13 you need to deduct tax, but for FY 2013-14 if the tax audit is not there then you can stop deducting for FY 2013-14.
The previous F Y is 2011-12 i.e. under tax audit, therfore in FY 2012-13 you need to deduct tax, but for FY 2013-14 if the tax audit is not there then you can stop deducting for FY 2013-14.
07 June 2012
Thanking You
07 June 2012
Thanking You
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- About TDS & Income Tax
- Scrutiny and reopening of past returns
- Pass word to open justification report for Q1 for FY 2026-27
- Tax on Deemed Capital Gain
- Section 194JA & JB Income which ITR Form to use
- PPF interest-As Exempt Income disclosure
- Type of Capital Gain
- Booth for sales promotion
- F & O PROFIT REPORTING FOR AY 2026-27
- Regarding ITR filing with more value than showing in AIS/TIS
- ITR-3 File/Error Found
- Exiting partner in partnership firm in gst portal
- Taxability of credit in canara bank ET & T section (NRO)
- Consequences of Non-Deduction of TDS under Income Tax???????????????
- TDS on Rent received on redevelopment of building
- Indian IT Portal issue in computing tax as per UK-India DTAA
- Capital Gains on sale of residential flat
- Upload Level ValidationITR3Category of Defect B/D
- PF Taxable Income
- Clarification on Tax Audit Applicability and Reporting of F&O Transactions in ITR-3
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
