Tds
This query is : Resolved
26 February 2013
Dear all
Is it mandatory to deduct tax????
In my case, a proprietor who is paying labour contracting charges (>30000/75000)& rent (>180000) is liable to deduct tax or not.
please explain it with example & refer the site for the same
Is it mandatory to deduct tax????
In my case, a proprietor who is paying labour contracting charges (>30000/75000)& rent (>180000) is liable to deduct tax or not.
please explain it with example & refer the site for the same
26 February 2013
Please refer Section 194C & Section 194H of the Income Tax Act.
.
TDS will be required to be deducted only when the Accounts of the preceding previous year of the business of the proprietor were under Tax Audit U/s 44AB due to the turnover
exceeding the specified limits in the said section.
.
In a case where no tax audit was carried on in the immediately preceding year, TDS is not required to be deducted.
.
.
TDS will be required to be deducted only when the Accounts of the preceding previous year of the business of the proprietor were under Tax Audit U/s 44AB due to the turnover
exceeding the specified limits in the said section.
.
In a case where no tax audit was carried on in the immediately preceding year, TDS is not required to be deducted.
.
27 February 2013
thank you sir
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