Tds applicability to individuals
This query is : Resolved
31 December 2014
A new proprietary business started in june 13. In fy 13 14 turnover was 35 lacs. In 14 15 up to Dec turnover is 60 lacs. TDS provision is applicable to business?
Can assessee take voluntary TAN
CA Nitin K. Varshney
(Expert)
31 December 2014
since the total turnover in FY 2013-14 was not exceeding rs. 1 cr, TDS provisions are not applicable on the assessee. TAN may be obtained voluntarily, there is no problem at all in it.
TDS provision will be applicable in the FY where total turnover in previous FY was exceeding limit given in sec 44AB (i.e. rs. 1 cr for this FY)
TDS provision will be applicable in the FY where total turnover in previous FY was exceeding limit given in sec 44AB (i.e. rs. 1 cr for this FY)
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- "Please ensure that the Total of the Deductions u/s 54F match the same in Table D in Sch CG"
- Need to correct "Whether it is last installment " response in Form 26 QB
- " Income from House Property " in joint names of co-owners
- REGARDING TDS RETURN OF FORM 27Q
- Notice under e-Verification Scheme
- GST demand notice for ITC reversal against exempted supply.
- RCM ON SECURITY CHARGES FROM INDIVIDUALS
- How to get money back from delisted company
- ITC not to be taken in accounts & GSTR-3B
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
