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TDS

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(Querist)
02 February 2011 Sir,
Plz. reply
Is there any limit of turnover, a firm/company will deduct TDS on payment after crossing the limit during their business?
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Aditya Maheshwari

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Aditya Maheshwari (Expert)
02 February 2011 No there is no limit.
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CMA. Subhash Kumar Jha

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CMA. Subhash Kumar Jha (Expert)
02 February 2011 If the tax audit 1st applies to a company in 2009-10. TDS provision applies from the next financial i.e 2010-11.
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Manasa Ranjan Samal

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Manasa Ranjan Samal (Querist)
02 February 2011 Sir,
Does not the provision of TDS apply before the 1st tax audit to a Company in 2009-10?
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Aditya Maheshwari

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Aditya Maheshwari (Expert)
02 February 2011 Subash this is case of Companies and firms and not individual & HUF.

For companies and firms TDS liable from 1st day itself. Kindly see the provisions and revert.
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Manasa Ranjan Samal

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Manasa Ranjan Samal (Querist)
02 February 2011 Sir,
Is there any provision for Individual & HUT for TDS in this case?
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Aditya Maheshwari

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Aditya Maheshwari (Expert)
02 February 2011 If individual and HUFs subject to tax audit in the previous year say F. Y. 2009 - 10 then they are liable for deduction of TDS from next year i. e. F. Y. 2010 - 11.
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Guest

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Guest (Expert)
02 February 2011 Agree with Mr. Aditya
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