Tds query

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ATUL AGRAWAL (Querist)
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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

KAVIRAJA ADDANGADI (Expert)
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06 January 2019 Yes, TDS Is applicable since assessee falls under Tax audit.

MOHD AFROZ

MOHD AFROZ (Expert)
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07 January 2019 Yes....................................

ATUL AGRAWAL

ATUL AGRAWAL (Querist)
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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

Prakash Kochar (Expert)
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09 January 2019 In case of Individual, In 1 st year of his liability for audit no TDS is to be done.

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