Tds deduction in case of turnover below 2 crore

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VIKKI SINGHVI (Querist)
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05 March 2016 one of my client has turnover of below rs. 2 crore in FY 2015-16. so whether he has to deduct tds in FY 2016-17?

PRADEEP KUMAR VATS

PRADEEP KUMAR VATS (Expert)
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10 March 2016 Dear Vikki

Kindly correct your question. Refer TDS provision. there is no such type of limit for deduction of TDS. yes, Tds provision has itself given the limits section wise.

Pradeep Kumar

VIKKI SINGHVI

VIKKI SINGHVI (Querist)
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10 March 2016 sir, my client is a proprietary firm, so i want to know whether tds provisions are applicable to him in fy 2016-17 if its turnover is below rs. 2 crore in fy 2015-16

PRADEEP KUMAR VATS

PRADEEP KUMAR VATS (Expert)
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12 March 2016 Vikki

Read the TDS provision. Following is the extract of section 194C extracts

As per section 194C(4) , No individual or Hindu undivided family shall be liable to deduct income-tax on the sum credited or paid to the account of the contractor where such sum is credited or paid exclusively for personal purposes of such individual or any member of Hindu undivided family.

So similarly in all section of TDS it is defined that section is applicable to those person.

TDS will be applicable in your case but for accuracy kindly read the section of TDS which is applicable in your case.

Pradeep Kumar

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