Tds by individuals under tax audit

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r.maheshwari (Querist)
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17 November 2014 My client is an individual having business or professional income exceeding 1 crore and his income assessed under tax audit. He is liable to deduct tds on all his payments attracting tds. He is renovating his personal House property ( self occpied ) as well as HP that is let out for rent. Is he liable to deduct tds on these contract payments? OR he has to deduct only for his business related expenses?

CA Parul Saxena

CA Parul Saxena (Expert)
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17 November 2014 He has to deduct tds on the expenditures which are specifically incurred for the purpose of business only........

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CS Deepak Pratap Singh

CS Deepak Pratap Singh (Expert)
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17 November 2014 Since your client is liable for Tax Audit, he is responsible for deduction of TDS from out of all payments done by him on behalf of business,.If he is running proprietorship business and using his House property in business then he has to deduct TDS out of payment made to contractors. Regrads'

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