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.
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