TDS & Tax Audit Applicability
This query is : Resolved
Umesh Kumar
(Querist)
28 September 2021
Dear Professionals,
One of our client engaged in providing professional services. During the F.Y 2019-20 he has audited due to Clause 44AB(d )- Profits and gains lower than deemed profit u/s 44ADA.(Turnover Approx. 24 Lacs).
And during the F.Y 2020-21 He has paid to another professional Approx. 1 lacs.
Now in that case Do we have to deduct TDS on payment made to another professional ?
(As per law interpterion:-Provided further that an individual or a Hindu undivided family, whose total sales, gross receipts or turnover from the business or profession carried on by him exceed [one crore rupees in case of business or fifty lakh rupees in case of profession] during the financial year immediately preceding the financial year in which such sum by way of fees for professional services )
One of our client engaged in providing professional services. During the F.Y 2019-20 he has audited due to Clause 44AB(d )- Profits and gains lower than deemed profit u/s 44ADA.(Turnover Approx. 24 Lacs).
And during the F.Y 2020-21 He has paid to another professional Approx. 1 lacs.
Now in that case Do we have to deduct TDS on payment made to another professional ?
(As per law interpterion:-Provided further that an individual or a Hindu undivided family, whose total sales, gross receipts or turnover from the business or profession carried on by him exceed [one crore rupees in case of business or fifty lakh rupees in case of profession] during the financial year immediately preceding the financial year in which such sum by way of fees for professional services )
Dhirajlal Rambhia
(Expert)
28 September 2021
No. Not liable to deduct TDS u/s. 194J, in FY 2020-21.
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