TDS liability
This query is : Resolved
06 September 2009
Respected experts
A proprietor is for the first time under tax audit for FY 2008-09. He has paid commission amounting to Rs. 8500 during the year. He is not liable to deduct TDS u/s 194H. Am I right? Please tell.
Thanks
A proprietor is for the first time under tax audit for FY 2008-09. He has paid commission amounting to Rs. 8500 during the year. He is not liable to deduct TDS u/s 194H. Am I right? Please tell.
Thanks
Aditya Maheshwari
(Expert)
06 September 2009
He is liable ot deduct TDS on brokerage paid above Rs. 2500/- to any person during the year.
So u r wrong and TDS Liable u/s 194H
So u r wrong and TDS Liable u/s 194H
06 September 2009
as he is an individual tehrefore, he is liable to deduct TDS only he is liable for Tax audit in last year. therefore, u r right.
CA CHINTAN AJMERA
(Expert)
06 September 2009
You r right. he is not liable to deduct Tds because proprietor is for first time in tax audit.
Aditya Maheshwari
(Expert)
07 September 2009
Since he is under audit last year then he is liable for deduction of tax w. e. f. 1.04.2009. I dont know how the others are interpreting the same.
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