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Querist : Anonymous

Querist : Anonymous (Querist)

04 February 2014 Dear Sir ,

as pee sec 192 tds is to be deducted on salary by an individual if in previous year he is liable to tax audit.

now my question is tds required to be deducted by an individual sole propriotor if he is liable to tax audit ON ACCOUNT OF SALARY PAID TO 3 STAFFS RS 4000 per month, rs 4500 pm and rs 15000 pm??

if yes , then how will these staffs claim credit as they are illeterate??

and in actuality does all shop owners/traders (with tax audit) deduct tds???

CA Pratik Shahnand

CA Pratik Shahnand (Expert)
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05 February 2014 If in previous year any one is liable for tax audit then TDS has to be deducted.

But in you present case where Salary amount are Rs 4000 pm, Rs 4500 pm and Rs 15000 pm are below the taxable exempt limit of Rs 2,00,000 so the trader should not deduct any TDS.

Querist : Anonymous

Querist : Anonymous (Querist)

05 February 2014 no ..tds is deducted even if anyone does not exceed rs 200,000 in any case..

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