Tds
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
22 August 2013
Does an individual or Huf asseessee, is
liable for deduction of TDS under any section
of income Tax.
liable for deduction of TDS under any section
of income Tax.
22 August 2013
Yes Individuals and HUF are also required to deduct TDS. However in case of payments made under sec. 194A, 194C, 194H, 194I and 194J in respect of individual and HUF, only if the turnover or professional receipt exceeds sum of Rs. 100 lakh or Rs. 25 lakh respectively in previous year (Tax Audit Limit), he is required to deduct tax at source.
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