Tds

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ATUL BELEL (Querist)
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22 October 2013 is there any provisions not to deduct TDs in f.y.2013-14, if there were no tax audit for f.y 2012-13 ? what is the relevant section under income tax act for the same.

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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22 October 2013 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 limit for Tax Audit in previous year, TDS is required to be deducted.

Tax Audit Applicable in Respect of FY 2011-12 then TDS required to be deducted in FY 2012-13.

Nikhil Kaushik

Nikhil Kaushik (Expert)
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22 October 2013 There are certain provisions wherein TDs provision won't apply to specific payments if tax audit was not applicable for the previous year immediate to the current previous year:

1. 194J - Individual and HUF in case of payment for professional services and technical services

2. 194A - Interest on securities

3. 194H - Commission or brokerage

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