TDS applicability_turnover
This query is : Resolved
02 April 2025
Dear Experts,
TDS is required to be deducted if turnover in previous year crosses 1 cr (for business). Will it be required in next year if turnover is below 1 cr?
Eg:
FY 22-23 - Turnover 1.4 Cr - Hence TDS required to be deducted in FY 23-24 since T/o crossed 1 cr in earlier year
FY 23-24 - Turnover 70 lakhs
In this case , whether TDS is reqd to be deducted in FY 24-25 since turonver in earlier year was below 1Cr. Also TAN number is still active.
Pls advice
Regards,
TDS is required to be deducted if turnover in previous year crosses 1 cr (for business). Will it be required in next year if turnover is below 1 cr?
Eg:
FY 22-23 - Turnover 1.4 Cr - Hence TDS required to be deducted in FY 23-24 since T/o crossed 1 cr in earlier year
FY 23-24 - Turnover 70 lakhs
In this case , whether TDS is reqd to be deducted in FY 24-25 since turonver in earlier year was below 1Cr. Also TAN number is still active.
Pls advice
Regards,
02 April 2025
Not mandatory.
14 April 2025
Such turnover below tax audit limit applicable only to individual and HUF. So LLP has to deduct tax irrespective of turnover.
29 September 2025
Good luck..
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