TDS Liability

This query is : Resolved

Sunny (Querist)
Follow

21 September 2019 I have a doubt in Direct Taxation:-

For suppose turnover of an Individual is more than 1 crore in F.Y. 2016-17 then he shall liable to deduct TDS in F.Y. 2017-18. But if turnover of that person falls below 1 crores in F.Y. 2017-18 will he be liable to deduct TDS in F.Y. 2018-19??

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
Follow

21 September 2019 Not liable to deduct TDS in F.Y. 2018-19

Message likes : 1 times

Gokul Sharma

Gokul Sharma (Expert)
Follow

21 September 2019 LIABILITY TO DEDUCT TDS DOES NOT DEPEND UPON TURNOVER DEPEND UPON TURNOVER . ITS DEPEND UPON YOU ARE LIABLE TO DEDUCT OR NOT

Message likes : 1 times

Sunny

Sunny (Querist)
Follow

23 September 2019 I have one more doubt that if in F.Y. 2018-19 I file my income tax return u/s 44AD and my turnover is 1,10,00,000 rupees then liability to deduct TDS will be attracted in F.Y. 2019-20??
Do TDS applies to Individual who files their ITR u/s 44AD??

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
Follow

23 September 2019 TDS applicable when previous year turnover exceed 1 crore irrespective of 44AD option.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Summarize this with AI

ChatGPT Perplexity Claude Google AI Grok