TDS in case business is a new
This query is : Open
Mayur Mahamuni
(Querist)
13 October 2017
Hi Frends,
My query is that, if a business is newly setup, then is it necessary to make TDS deduction while making payment of professional fees or payment to contractor under section 194J or 194C viz
Do it require to take TAN registration.
Also if in any quarter no TDS deduction happens, is it require to file quarterly TDS return
Ashiwini Ballodia
(Expert)
13 October 2017
An Individuals or an H.U.F. is not liable to deduct TDS if tax audit was not done last year but for others deductor TDS to be deducted whether it is a new assessee
File a NIL return online because sometimes notice comes for not filling the return
CA Rashmi Gandhi
(Expert)
13 October 2017
Agreed with Ashwini Ballodia Sir......
Mayur Mahamuni
(Querist)
13 October 2017
But even though thrashhold limit exceeds more than the limit specified in the Sec 194c and 194J
Mayur Mahamuni
(Querist)
13 October 2017
And also it is OK if registration taken on safer side and make compliance incase of individual business
Ashiwini Ballodia
(Expert)
13 October 2017
Yes it is safer to take the registration
Ashiwini Ballodia
(Expert)
13 October 2017
If you don't have TAN (Applicable for individual or HUF) than you don't have to deduct TDS even if limit exceeds threshold
Mayur Mahamuni
(Querist)
13 October 2017
Thanks Ashwini Sir,
If registration taken, then is it mandatory to file quarterly TDS return, if in any quarter no TDS deduction.
Ashiwini Ballodia
(Expert)
13 October 2017
Better to file the return as I already told you that sometime notice are sent for non filling of quarterly returns
Ashiwini Ballodia
(Expert)
13 October 2017
File the Nil return online it will hardly takes 5 minute
Message likes :
1 times
Mayur Mahamuni
(Querist)
13 October 2017
thanks you very much sir
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
- Gst credit note by supplier
- GST on reimbursement of expenses
- Query on effect of registration of property
- Missed uploading GST Invoice
- Due date for filing return for the partner in partnership subjected to Tax Audit
- Wrong CMPo8 file
- Equity Share Sale and Purchase
- Visiting card purchase
- Number of years as per AS amortisation of Goodwill
- Whether output tax is taken credit by purchaser
- Classification of income of P Ltd company as business or profession
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- "Please ensure that the Total of the Deductions u/s 54F match the same in Table D in Sch CG"
- Need to correct "Whether it is last installment " response in Form 26 QB
- " Income from House Property " in joint names of co-owners
- REGARDING TDS RETURN OF FORM 27Q
- Notice under e-Verification Scheme
- GST demand notice for ITC reversal against exempted supply.
- RCM ON SECURITY CHARGES FROM INDIVIDUALS
- How to get money back from delisted company
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
