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...

Nikhil Kaushik

Nikhil Kaushik (Expert)
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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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