Tds
This query is : Resolved
C.A. Anthony C D'souza
(Querist)
10 August 2011
An individual owning plot has given contract to an engineer (Individual) for constructing “9 blocks apartment“. Engineer has used his own material & labour. Payments were made to engineer in installments. After completion of the apartment the owner is selling blocks to various buyers from August 2011.
1)The owner has started business during the year 2009-2010 and Payments are already made to engineer during the year 2009-2010 without deducting TDS.
2)In which year TDS is required to be done?
1)The owner has started business during the year 2009-2010 and Payments are already made to engineer during the year 2009-2010 without deducting TDS.
2)In which year TDS is required to be done?
CA Ashwani Agarwal
(Expert)
10 August 2011
TDS is required to be deducted in the year next to the year in which the turnover crossed 60 lakhs in case of an individual.
So if your turnover was more than 60 lakhs in the PY then you have to deduct TDS in the current year.
So if your turnover was more than 60 lakhs in the PY then you have to deduct TDS in the current year.
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
- Depreciation Chart Companies Act
- GST Audit whether Govt Companies are exempt?
- PTRC Show Cause Notice on Email
- Accounting treatment of AMC alongwith the purchase of Laptop
- Unable to File TDS Q2 Return – New TRACES Portal Error
- Transfer of Physical Stock Between Two Proprietorship Concerns
- MSME disclosure and disallowance
- Issuing of delivery challan by seller of goods
- Not ordinarily resident having partnership income in India and salary in USA is any form to filed be
- EPF ECR NEW RULES Sep 17th 2026
- GST Treatment of Purchases with GST Paid where Outward Supplies of Manufactured CattleFeed Exempt
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
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
