Tds exemptions
This query is : Resolved
16 September 2012
DEAR SIR, MY QUESTION IS THAT, I HAVE A PROPRIETORSHIP COMPANY. I HAVE TAKEN THE TAN NO. THE PREVIOUS YEAR 2010-2011,M Y TURNOVER WAS TAX AUDIT, AND I DEDUCTED TDS ON PAYMENT AND SUBMITTED THE RETURN, BUT LAST YEAR 2011-12, MY TURNOVER WAS BELOW TAX AUDIT, ie less than 60 lacs. THEN I HAVE NOT DEDCTED ANY TDS ON PAYMENT AND NOT FILED THE TDS RETURN, PLS TELL ME LET ME FILE THE TDS RETURN FOR THE PERIOD OR IS THERE ANY EXEMPTION FOR THE SAME.
16 September 2012
TDS provision is applicable on the basis of previous year turnover hence in f.y. 2010-11 you are in the ambit of tax audit and in f.y. 2011-12 your turnover not exceeding the limit of tax audit in that case you are liable for tax audit in previous year (2010-11) so TDS provision is applicable on You in the F.y. 2011-12
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