TDS in 1st Yr of Tax Audit!
This query is : Resolved
CA Parag Jani
(Querist)
17 September 2010
TDS provisions do not apply in the 1st year when an individual is subjected to Tax Audit u/s 44AB! Correct? Then is there any need to submit the TDS Returns in respect of expenses incurred during the said 1st financial year? Plz advise.
17 September 2010
No. TDS provisions including that of TDS returns will apply only from next financial year.
Message likes :
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CMA Ramesh Krishnan
(Expert)
22 September 2010
agree, from the next fiancial year need to comply with TDS provisions
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