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
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
- About TDS & Income Tax
- Section 194JA & JB Income which ITR Form to use
- Pass word to open justification report for Q1 for FY 2026-27
- PPF interest-As Exempt Income disclosure
- Under construction property in ITR
- Scrutiny and reopening of past returns
- Booth for sales promotion
- Upload Level ValidationITR3Category of Defect B/D
- Building tax payment deduction in rental Income
- F & O PROFIT REPORTING FOR AY 2026-27
- Difference in GSTR3B system generated which is correct and actual Payment it asks
- Indian IT Portal issue in computing tax as per UK-India DTAA
- Capital Gains on sale of residential flat
- PF Taxable Income
- Clarification on Tax Audit Applicability and Reporting of F&O Transactions in ITR-3
- Interest credited in FY2025-2026 & TDS therein by EPFO does not reflect in AIS or Form 26AS
- 44ad eligble money lending interest
- Taxation in the hands of Landowner under JDA
- Delisted shares sold in off market/ Rebate u/s87A
- In Exports Sales HSN details where to fill
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
