Tds applicability

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CA Miss Naamah (Querist)
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13 January 2014 An individual whose turnover is less than 1 crore, have to make remittance outside india for $50. Is TDS to be deducted???

As an individual and also turnover within statutory limit, he is not eligible to deduct TDS if payment is made to resident. but, what if payment is made to non resident???

Also, whether Form 15CA and Form 15CB is required to be submitted???
If yes, can it be submitted without TDS deduction????

Guest

Guest (Expert)

13 January 2014 Yes liable to deduct TDS.

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AVTAR SINGH

AVTAR SINGH (Expert)
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13 January 2014 TDS has to be deducted u/s 195 even if turnover is less than 1 crore.

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CA Miss Naamah

CA Miss Naamah (Querist)
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14 January 2014 What about Form 15CA and 15CB???

Now, if I take TAN no. So will I be liable to deducted TDS on resident also i.e. u/s 192, 194A, 194C, etc..., which is currently not applicable to me???

AVTAR SINGH

AVTAR SINGH (Expert)
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15 January 2014 No. For other sections, the TDS would be deducted if applicable to all assessees including those having turnover below Rs 1 crore. Getting TAN would not make you liable to deduct TDS which otherwise you are not supposed to deduct.

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