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TDS

This query is : Resolved 
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(Querist)
17 August 2010 I AM CARRYING OUT BUSINESS. BUT MY TURN OVER IS BELOW 40LACS. IS IT NECESARY TO DEDUT TDS ON CONTRACTORS BILL???
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srinath

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srinath (Expert)
17 August 2010 if u r individual and if u r nor subject to tax audit in the previous year (ie turnover is more than 40 lacs in case of business and 10 lacs in case u r profession) then no need to deduct tds in the current year
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CMA. Subhash Kumar Jha

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CMA. Subhash Kumar Jha (Expert)
17 August 2010 Agreed with Mr Srinath.
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