Tds
This query is : Resolved
CA JAYESH RELKAR
(Querist)
23 January 2019
Dear Sir,
If an individual has turnover of say above 1 crore but below 2 crore, and he decided to declare his income as per provisions of Section 44AD. In this case will the provisions of TDS ( on salary or commission or any other expenditure ) be applicable to him or not.
Since an individual is liable to conduct tax audit only if his turnover exceeds 1 crore in normal case. In case of 44AD an individual is liable to conduct tax audit only if he is showing income below 6% or 8%. So if that individual is following Section 44AD, then I guess provisions of TDS will not be applicable to him.
Kindly confirm whether i am right or wrong.
Thanking you
If an individual has turnover of say above 1 crore but below 2 crore, and he decided to declare his income as per provisions of Section 44AD. In this case will the provisions of TDS ( on salary or commission or any other expenditure ) be applicable to him or not.
Since an individual is liable to conduct tax audit only if his turnover exceeds 1 crore in normal case. In case of 44AD an individual is liable to conduct tax audit only if he is showing income below 6% or 8%. So if that individual is following Section 44AD, then I guess provisions of TDS will not be applicable to him.
Kindly confirm whether i am right or wrong.
Thanking you
Nikhil Kaushik
(Expert)
23 January 2019
there is no link between actual conduct of audit and TDS deduction obligation. Once your turnover crosses 44AB clause (a) or (b), the obligation to deduct TDS kicks in
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