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Tds applicability

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Querist : Anonymous

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Querist : Anonymous (Querist)
24 June 2017 Dear Experts.
our proprietary firm turnover is 1 crore 76 Lacs in FY 2016-17. the tax audit is applicable u/s 44AB but we are going to opt sec 44AD Not for Tax audit. plz let me know do we need to deduct TDS in FY 2017-18.

Thanks
Swati
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CA Rashmi Gandhi

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CA Rashmi Gandhi (Expert)
24 June 2017 In last assessment year if your turnover exceeds 1 crore & you get your accounts audited then only you required to deduct TDS. However no such prov in respect of TDS on salary u/s 192
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CA Rashmi Gandhi

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CA Rashmi Gandhi (Expert)
24 June 2017 So no need to deduct TDS except u/s 192.
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Dhirajlal Rambhia

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Dhirajlal Rambhia (Expert)
13 October 2021 Once limits as per sec. 44AB(a) applicable, TDS deduction in next FY is mandatory.
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