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Tds for sale below 1 cr

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Querist : Anonymous

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Querist : Anonymous (Querist)
11 August 2013 PROP SHIP RETAIL BUSINESS TOTAL SALE IS 96 LAC DURING THE F.Y. 2012-2013.
INTT PAID ON UNSECURED LOAN EXCEEDS RS. 100000.00 AND SALARY TO THE SAME PERSON EXCEEDS RS.200000.00
THE CASE IS NOT AUDITED.
NET INCOME IS BEING SHOWN @ 8.5%.
THE QUESTION IS: IS IT COMPULSORY TO DEDUCT TAX AT SOURCE .TDS IS TO BE MADE OR NOT.
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Ganeshbabu K

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Ganeshbabu K (Expert)
11 August 2013 No need to deduct TDS,,if tax audit not applicable in previous year
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CS,CA F,Numrologi TusharSampat

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CS,CA F,Numrologi TusharSampat (Expert)
21 August 2013 Check the previous financial year whether you were liable to get tax audit, if yes then only you need to deduct tds u/s 194A.
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