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Tds

This query is : Resolved 

19 October 2012 DEAR MEMBERS

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.

THANKS

CA MANOJ K JUNEJA
9316555025
9815464444

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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