Tds query
This query is : Resolved
ATUL AGRAWAL
(Querist)
05 January 2019
IN the first year business of an individual, the turnover is 4 crore, whether he is liable to deduct TDS on interest in the first year?
KAVIRAJA ADDANGADI
(Expert)
06 January 2019
Yes, TDS Is applicable since assessee falls under Tax audit.
MOHD AFROZ
(Expert)
07 January 2019
Yes....................................
ATUL AGRAWAL
(Querist)
07 January 2019
Turnover is considered of the preceding financial year for liability of deducting TDS in case of Individual. In the above case, Turnover in preceding financial year is NIL. then how TDS is required to be deducted in first year?
Prakash Kochar
(Expert)
09 January 2019
In case of Individual, In 1 st year of his liability for audit no TDS is to be done.
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
- Depreciation Chart Companies Act
- GST Audit whether Govt Companies are exempt?
- PTRC Show Cause Notice on Email
- Accounting treatment of AMC alongwith the purchase of Laptop
- Capital Gail Exemption Certificate
- Unable to File TDS Q2 Return – New TRACES Portal Error
- MSME disclosure and disallowance
- Taxation of crypto futures in India Fy 2026- 2027
- Issuing of delivery challan by seller of goods
- Not ordinarily resident having partnership income in India and salary in USA is any form to filed be
- GST Treatment of Purchases with GST Paid where Outward Supplies of Manufactured CattleFeed Exempt
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
