TDS applicability

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Dharmishta Tank (Querist)
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24 June 2008
Dear All,

Please Clarify

A proprietory concern was liable for tax audit for A.Y. 2006-07 and A.Y. 2007-08.

For A.Y. 2008-09, they are not liable for tax audit.Whether he need to deduct TDS for financial year 2008-09. i.e. for A.Y. 2009-10 since in the preceding financial there was no tax audit

CA Vivek Jain

CA Vivek Jain (Expert)
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24 June 2008 TDS liability arise if tax audit applicable or not

CA Vivek Jain

CA Vivek Jain (Expert)
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24 June 2008 due date of payment of professional tax for financial year 2007-08 and 2008-09

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Assign New Status : Open Resolved

Shekar

Shekar (Expert)
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24 June 2008 Hi Vivek & Dharmista...

Applicability of TAX AUDIT for Individuals in previous years will defenitely have an impact for deciding whether he has to deduct TDS or not..

The Provisions of Sec 194A,194C,194H,194I & 194J have been amended from June1,2002 to provide that an individual or HUF,whose total sales,turnover or gross reciepts from business or profession carried on by him exceeds the monetary limit of Sec 44AB during the financial year IMMEDIATELY PRECEEDING the financial year in which the income is to be creditted or paid,shall be liable to deduct TDS...

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