Tds not to be deductible
This query is : Resolved
KANCHAN SHARMA
(Querist)
02 February 2013
tds not deductible if tax audit not applicable for propriety and other
Ankit Garg
(Expert)
02 February 2013
Read Proviso after relevant Sectionof TDS:
[Provided that an individual or a Hindu undivided family, whose total sales, gross receipts or turnover from the business or profession carried on by him exceed the monetary limits specified under clause (a) or clause (b) of section 44AB during the financial year immediately preceding the financial year in which such interest is credited or paid, shall be liable to deduct income-tax under this section.]
[Provided that an individual or a Hindu undivided family, whose total sales, gross receipts or turnover from the business or profession carried on by him exceed the monetary limits specified under clause (a) or clause (b) of section 44AB during the financial year immediately preceding the financial year in which such interest is credited or paid, shall be liable to deduct income-tax under this section.]
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