TDS on Freight
This query is : Resolved
13 March 2009
Dear All
Please let me Know
1. if it is First year of the Proprietor ship firm i.e F.Y 2008-09 and Sales Exceed Rs 40,00,000/-whether TDS is requried to be deducted on Freight u/s 194C assume that it exceed exempted limit.Last year there were no Sale.
Please let me Know
1. if it is First year of the Proprietor ship firm i.e F.Y 2008-09 and Sales Exceed Rs 40,00,000/-whether TDS is requried to be deducted on Freight u/s 194C assume that it exceed exempted limit.Last year there were no Sale.
13 March 2009
as its a proprietorship (individual) this year u need not deduct tax but from next year u are required to deduct tax.
13 March 2009
TDS liability arise from next year
13 March 2009
During the first year you are liable to deduct TDS
13 March 2009
Agree with Mr. Gurdeep's view.
13 March 2009
From "next year only onwards" you will be "always" liable to deduction of tax.
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