Tds provision applicabilities
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
15 March 2014
i have one doubt about tds prov. applicability for individual.
if individual had done audit for the a.y 2012-2013 due to net profit down from 8 %..
His turnover was less the audit limit i.e 60lakh/1cr as applicable.
he still not done audit for the a.y 2013-2014. but now he ready to audit .. and such audit applicable only due to lower net profit..
now question that tds provision applicable for him...
if individual had done audit for the a.y 2012-2013 due to net profit down from 8 %..
His turnover was less the audit limit i.e 60lakh/1cr as applicable.
he still not done audit for the a.y 2013-2014. but now he ready to audit .. and such audit applicable only due to lower net profit..
now question that tds provision applicable for him...
Nikhil Kaushik
(Expert)
16 March 2014
no...please refer to proviso to each tds section...the tds provision dont apply to 44AB..it applies to cases where turnover of the individual/HUF crosses limits mentioned in 44AB...since 44AD cases dont cross that limit, tds provisions of those particular sections wont apply.
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