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TDS

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(Querist)
16 July 2009 I have started a bussiness in the F.Y 2009-10 and turnover of the bussiness is 1 crore in above financial year. Do I require to deduct TDS in Financial 2009-10 wherever applicable or not as I have started bussiness in the F.Y 2009-10
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CS Vandana Kacholia

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CS Vandana Kacholia (Expert)
16 July 2009 If turnover is 1 crore, tax audit is applicable to you and therefore you have to deduct tds on payments accroding to tds rules.
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taxindiaconnect

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taxindiaconnect (Expert)
16 July 2009 Yes
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CA Nitin Wadhwani

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CA Nitin Wadhwani (Expert)
16 July 2009 No.
You will have to deduct TDS from Next Year.
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