When an individual is liable to deduct tax at source (tds)
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
05 May 2016
If an individual's turnover is exceeding Rs.1 crore in A.Y. 2016-17 & he is making interest payments on 31.03.2016. So, is he liable to deduct TDS or he is liable to get registered under TDS from 01.04.2016??
So is he at default??
So is he at default??
06 May 2016
If the loan obtained by the assessee is for business purposes, the interest expenditure is deductible from the business income. Where the asseessee being individual or HUF is liable for tax audit during the previous year, he / she is has to comply with the provisions of Chapter XVII (TDS).
Message likes :
1 times
06 May 2016
if his lst hyear turnove exceeds rs. 100 lacas then he have to deduct the tds on the make payment to person as per specified in law.
Message likes :
1 times
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
- Itr 1 processing
- Off Market debit and credit transaction
- Showing Gift from relative in ITR for this year
- Reporting Income under Section 44ADA
- Share accounting-->fifo - capital gain - period as per fifo?
- ITR selection for salaries and capital gain less than L
- ITR 1: Details for showing Exempt Income
- ITR returnFY25-26
- INCOME TAX ON REDEVELOPEMENT OF FLAT
- Short Term Capital gain on shares bought and sold after 2018 onwards
- Gst invoice numbering and delivery challan numbering
- Sales amount in Gstr1
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
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
