Tds deduction in case of turnover below 2 crore
This query is : Resolved
VIKKI SINGHVI
(Querist)
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
(Expert)
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
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
(Querist)
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
(Expert)
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
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
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Accounting treatment of AMC alongwith the purchase of Laptop
- Nursery business
- Condonation Request sec 119(2) b -Enhancement Limit of Leave Exemption prior to AY 2023
- Not ordinarily resident having partnership income in India and salary in USA is any form to filed be
- GST Treatment of Purchases with GST Paid where Outward Supplies of Manufactured CattleFeed Exempt
- Issuing of delivery challan by seller of goods
- Tax on Amount transferred in HUF Account
- WRONG GSTR7 ENTRIES ACCEPTED ERRONEOUSLY
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
