TDS provision for Indl/HUF
This query is : Resolved
27 May 2011
An assesee who is an individual was covered under tax audit in AY2010-11. But for AY2011-12 he falls outside the purview of tax audit u/s 44AB. Last year as he was covered under tax audit he was liable to deduct tax at source for interest and salary. Now as he is not covered under tax audit, i would like to know whether he is liable to deduct TDS for interest and salary payment.
Please reply soon.
Please reply soon.
CA PARAS BAFNA
(Expert)
27 May 2011
For the Financial Year 2010-11, the liability to deduct TDS continues and for FY 2011-12 he may not deduct TDS on Interest. However on salary , he should continue to deduct TDS.
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