TDS DEDUCT

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This query is : Resolved

rupesh (Querist)

13 December 2009 HI
SIR
I WANT TO KNOW WHETHER TDS DEDUCT IS COMPULSORY BY INDIVIDUAL AND HUF WHOSE TURNOVER BELOW 40 LAKHS FROM A.Y. 2010-11

CA.Tarun Maheshwari

CA.Tarun Maheshwari (Expert)

13 December 2009 Generally not. But compulsory for Salary and few other sections. Please be clear for which payment you are asking this query???

Murtaza I Bhagat

Murtaza I Bhagat (Expert)

14 December 2009 TDS does not depends upon T.O. it is as per Taxable income in employement,Service which you have Provided or any earning from taxable sourse..thats why tax has beeen deductable at source.

Ravinder

Ravinder (Expert)

14 December 2009 TDS is never linked with the turnover of any organisaton. TDS is depend upon the nature of payment and amount of payment.

so please be careful while making the payments about TDS

CA.Tarun Maheshwari

CA.Tarun Maheshwari (Expert)

15 December 2009 Dear Murtaza and Ravinder, TDS deduction depends on turnover also in some cases if the deductor is individual or huf assessee. They shall be liable if they are covered u/s 44AB, i.e TO exceeding Rs. 40Lacs/10 Lacs as the case may be. But this is applicable in few sections like professional fees, rent, contrat etc. Not covered for TDS on Salary provisions.

Murtaza I Bhagat

Murtaza I Bhagat (Expert)

28 December 2009 I agree with your comment Mr. Tarun I just talking about salary..

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