Tax deducted at source

This query is : Resolved

Dhokia Hardik (Querist)
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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.

VIKAS KUNDU

VIKAS KUNDU (Expert)
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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.

CA. Vinod

CA. Vinod (Expert)
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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.

Dhokia Hardik

Dhokia Hardik (Querist)
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07 June 2012 Thanking You

Dhokia Hardik

Dhokia Hardik (Querist)
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07 June 2012 Thanking You

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