ONE OF MY ASSESSEE'S TURNOVER WAS RS. 65 LACS , 20 LACS, 40 LACS IN THE YEAR 2009-10, 2010-11 AND 2011-12 RESPECTIVELY. KINDLY TELL ME WHETHER TDS PROVISIONS ARE APPLICABLE FOR THE YEAR 2010-11 AND / OR 2011-12. MY ASSESSEE IS A PROPRIETORSHIP FIRM.
19 October 2012
For 2009-10 the 44 AB limit was 40 lakhs . hemce applicable. For 2010-11 ,Not applicable. For 2011-12 not applicable as they are below limits
20 October 2012
TDS WILL BE APPLICABLE ONLY FOR 2010-11 AS TURNOVER EXCEED THE SPECIFIED LIMIT IN 2009-10. THE TEST IS THAT IF T/O FOR 11-12 EXCEEDS THE LIMIT SP U/S 44AB THEN U NEED TO DEDUCT TAX IN YEAR 2012-13. CA MANOJ GUPTA JODHPUR 09828510543
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