Tds applicability
This query is : Resolved
krishna gaggar
(Querist)
14 April 2015
As per Income Tax Act an individual(proprietor) is required to deduct TDS only if he/she got his/her accounts audited u/s44AB in the previous financial year
If once he/she is liable for TDS in a particular year, will he continue with the liability despite his turnover falling below turnover limit u/s 44AB in any subsequent year
If once he/she is liable for TDS in a particular year, will he continue with the liability despite his turnover falling below turnover limit u/s 44AB in any subsequent year
CA Hemant Bhathad
(Expert)
14 April 2015
Every year is required to check whether they liable for their account audited u/s 44ab
they are liable for tds for particular year only when his turnover falling beyond turnover limit u/s 44ab during that particular year
they are liable for tds for particular year only when his turnover falling beyond turnover limit u/s 44ab during that particular year
krishna gaggar
(Querist)
14 April 2015
THANKS FOR YOUR REPLY. BUT WOULD YOU PLZ. SUPPORT YOUR STAND WITH ANY CIRCULAR/NOTIFICATION/CASE LAW OR DEPARTMENTAL INTERPRETATION?
Aditya Maheshwari
(Expert)
14 April 2015
check the wordings of any section for TDS eg 194A, 194J, etc
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