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tds

This query is : Resolved 

in any P.Y. tax audit has not been done bcz of mone. limit u/s 44AB not achieve in that P.Y. year tds on int. shall be deducted or not.before this P.Y. year tax audit had done.


In case of Individual & HUF, TDS on interest is not liable to be deducted if in the preeceding year the deductee was not liable for audit u/s 44AB.

Year 1 - tax audit
Year 2 - no tax audit
Year 3 - not relevant

You are a propreitorship concern.

TDS on interest during year - 3 not applicable.


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