Tds applicable or not
This query is : Resolved
Jaipal Singh
(Querist)
26 March 2015
Sir my individual business turnover is 70 lac in FY 2014-15. Tax audit is not applicable. I am not having TAN, I am liable to deduct TDS on expenses like proff fee, contractor, rent etc.
regards
27 March 2015
No, in case of individuals liability to deduct tax arise only when if liable to tax audit during the financial year immediately preceding the financial year in which such payment are made.
In your case, if FY 2013-14 audited or not .
27 March 2015
the ans is no if you were not liable to tax audit in fy 13-14 then no tds to be deduicted in fy 14-15
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