Tds by individual
This query is : Resolved
01 August 2020
Sir
Should, being an Individual running its own business by taking sub-contract, deduct tds on the payment made to sub- contractors?
His business turnover exceeds the 2 crores and covers under tax audit.
thanks in adv
Should, being an Individual running its own business by taking sub-contract, deduct tds on the payment made to sub- contractors?
His business turnover exceeds the 2 crores and covers under tax audit.
thanks in adv
01 August 2020
Yes, TDS to be deducted on sub-contract payments made by the individual.
01 August 2020
Sir
Should he pay tds towards the interest on vehicle loan obtained from Non-banking financial institutions at the end of year?
Guide me please
thanks in adv
Should he pay tds towards the interest on vehicle loan obtained from Non-banking financial institutions at the end of year?
Guide me please
thanks in adv
02 August 2020
Yes TDS is applicable on Interest paid to NBFC.
03 August 2020
sir
If an individual is having vehicle LOANS for more than 10 nos of trucks and pays tds on interest, will the exemption limit of Rs.10,000/- p.a on tds payment be applicable for each truck loan or total loan?
AND one more doubt,
In case if an individual has the turn over below Rs.2 Crores p.a, who is also not covered under tax audit, is he liable to deduct tds?
guide me please
If an individual is having vehicle LOANS for more than 10 nos of trucks and pays tds on interest, will the exemption limit of Rs.10,000/- p.a on tds payment be applicable for each truck loan or total loan?
AND one more doubt,
In case if an individual has the turn over below Rs.2 Crores p.a, who is also not covered under tax audit, is he liable to deduct tds?
guide me please
28 October 2021
1. Total loan amount.
2. Not Liable to TDS in the succeeding year, in which turnover is less than 1Cr.
2. Not Liable to TDS in the succeeding year, in which turnover is less than 1Cr.
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