Tds applicability
This query is : Resolved
Querist : Anonymous
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
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
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
CA Rashmi Gandhi
(Expert)
24 June 2017
So no need to deduct TDS except u/s 192.
13 October 2021
Once limits as per sec. 44AB(a) applicable, TDS deduction in next FY is mandatory.
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