When is one liable to deduct tds & deposit the same to gov
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
14 July 2013
When does a firm become liable to start deducting the TDS from the bill of vendor & start the depositing the same to gvernment & minimum limit when it should apply for TAN No?
15 July 2013
No Limit for Partnership Firms. TDS should be deducted on any payment attracting TDS section.
Only in case of Individual and HUF TDS deduction liability starts if the file was subject to tax audit in the previous year.
Entities other than Individual/HUF needs to start deducting TDS from the very beginning.
Only in case of Individual and HUF TDS deduction liability starts if the file was subject to tax audit in the previous year.
Entities other than Individual/HUF needs to start deducting TDS from the very beginning.
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15 July 2013
For TDS rates and threshold limits under various sections check out the file from link given below--
https://www.caclubindia.com/forum/21-useful-charts-for-tax-compliance-ay-14-15-251153.asp
https://www.caclubindia.com/forum/21-useful-charts-for-tax-compliance-ay-14-15-251153.asp
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