22 June 2012
194 (I) is applicable only in case the rent paid or payable exceeds Rs.1,80,000 and Further the Books of Assessee are required to be Audited U/s 44AB.
23 June 2012
TDS is required to be deducted by an individual or HUF if the turnover of the individual or HUF exceeded the amount specified u/s 44AB in the PREVIOUS YEAR.
In case of trading business, the limit is Rs. 60 lakhs.
Since your turnover in the previous year was NIL, you are NOT required to deduct TDS in the current year.
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