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Tds

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(Querist)
24 November 2013 sir my client in first year of tax audit, they have also TAN no. but some cases not deducted TDS. it is allowable because it is first year of audit or not. thnx in advance.
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CA PARAS BAFNA

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CA PARAS BAFNA (Expert)
24 November 2013 In case Tax Audit is applicable for the FY 2012-13, your client is required to deduct TDS on the transactions liable for TDS from FY 2013-14 (i.e from 01.04.2013).
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In other words , first year of tax audit is if FY 2012-13, then from 1.4.2013 he is required to deduct TDS on all such prescribed transactions.
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It is advisable to follow the rule completely and strictly.
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In FY 201-13 do not deduct TDS. If Tax is deducted and not deposited, it is better to refund the amount to the payee to settle his account. But once you have deposited the TDS, you should deduct TDS on all such transactions on which TDS is applicable.
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