tds

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

30 November 2010 If a person is not subject to tax audit u/s 44AB during the year he becomes subject to tax audit u/s 44AB then is he liable to deduct tax at source?

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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30 November 2010 Say, If your turnover has crossed Rs. 40 lakh in Jan., 2010, you are liable to get your accounts audited u/s 44AB for the F.Y 2009-10. But, TDS provisions will be applicable from the next financial year starting 1st April, 2010.

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