TDS ON COTRACT

This query is : Resolved

CA Hemant T Dewani (Querist)
Follow

09 May 2008 in the finansical year 2006-07 total turnover is rs 50 lakhs tds is deducted & paid but in financial yers 2007-08 total turnover is less than rs 40 lakhs & income is presumtive income u/s 44AD cotractor 8% net profit is shown whether tds provision is applicable or not in the f y 07-08 & 08-09

R.V.RAO

R.V.RAO (Expert)
Follow

09 May 2008 TDS PROVISIONS ARE APPLICABLE IRRESPECTIVE OF TAX AUDIT LIMITS .
IN FACT THERE IS NO CONNECTION BETWEEN THE BOTH.THE TURNOVER LIMIT IS FOR TAX AUDIT PURPOSE AND HAS NOTHING TO DO WITH TDS.
TDS PROVISIONS ARE GOVERNED UNDER SEC 192 TO 196 OF IT ACT.
R.V.RAO

CA Hemant T Dewani

CA Hemant T Dewani (Querist)
Follow

09 May 2008 MR.R V RAO
OUR IS PROPRIETORY CONCERN & TDS IS NOT APPLICABLE FOR INDIVIDUAL IF DURING THE YEAR TURNOVER IS LESS THAN 40 LAKHS

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

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

Vidit Ratanghayra

J.Vijai

mohammad.asraf

sathish kumar k

prakash takane

Subscribe Now

TDS ON COTRACT

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

Accountant

Manager- Finance and Compliance

GST CONSULTANCY

GST CONSULTANT

CA Final

Article Assistant