TDS
This query is : Resolved
CMA Ramesh Krishnan
(Expert)
20 August 2010
Yes. if he is covered under Sec.44AB complusory audit of books
otherwoise no
otherwoise no
20 August 2010
No individual are not liable for TDS.
But the condition is : section 44 AB (Tax audit) is also not applicable to him otherwise it will be applicable.
But the condition is : section 44 AB (Tax audit) is also not applicable to him otherwise it will be applicable.
CMA Ramesh Krishnan
(Expert)
20 August 2010
OD Interest is payment to Bank. The tds not applicable
CA Sanat Pyne
(Expert)
20 August 2010
By virtue of section 194A(3) and section 197(1C) tds is not to be deducted on OD Interest .
Message likes :
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20 August 2010
NO tds on interest payable to bank.
21 August 2010
One of our client is sole propritor of a say X communication.X communications capital account shows withdrawwal for clients LIC, amount paid to some other party shown as withdrawal through bank and Income Tax paid for X Coummunication.how sholud it be trated in X communication Balance sheet capital account
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