Tds query
This query is : Resolved
20 October 2013
Sir, an individual doing business is liable to Audit u/s 44AB. Now he wants to start another business in F.Y. 2013-14 in which he would be a proprietor. Whether he is liable to deduct TDS u/s 194J as he is being subject to audit for another business or exempt since first year of second business ?
20 October 2013
As a proprietor, it doesn't matter how many different business you do. All the businesses are clubbed for income tax purposes. Accordingly, he shall remain liable for complying the provisions of 194J.
21 October 2013
Expert
The second provisio to Section 194J says that TDS to be deducted by Invidual on Professional or techincal fees if covered under 44AB. There is no mention of royalty. Does that mean, no TDS by indiviual on royalty even if subject to Audit ?
The second provisio to Section 194J says that TDS to be deducted by Invidual on Professional or techincal fees if covered under 44AB. There is no mention of royalty. Does that mean, no TDS by indiviual on royalty even if subject to Audit ?
21 October 2013
the way the proviso is structured, you can say that in case of royalty TDS won't be deductible in this case.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- GSTR-1A How to update Invoice
- Excess salary payment.
- TDS on Purchase of Immovable Property by NRI from NRI
- Stamp Paper for partnership firm change new income tax 2025
- INTEREST APPLICABLE ON ITC REVERSAL PORTION
- Capital gain from sale of house property
- Current Account Opening for Sole Proprietorship with Udyam Certificate - Zero Turnover
- Value of property in capital gain
- Copyright software
- Regarding TDS Applicability For Director Remuneration
- GST Treatment of Insurance Commission for Existing GST Holder
- Cash gift by grand mother to her grand daughter
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
- No Compliences after incorporation
- USEFUL LIFE OF USED/SECOND HAND COMMERCIAL VEHICLES
- Claiming TDS deducted by builder on Hardship compensation and Corpus
- Address Change to another state of a Registered Trust with 12AB approval
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
