Hi there, I have a sole proprietorship, and have 7 employees, i m paying 45000 to each, i havent deducted any TDS for now, even i havent applied for TAN, do i need to apply it immedietely or can i apply it after march, plz help me.
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Can i apply tan for next quarter.
Replies (3)
Dear ziya
It is your liability to deduct the tds and deposit the same to goverment under sec 192(if your paying salary) Therefore you have to apply for tan. I suggest you to take TAN as soon as possible. You have to pay interest on late payment of tds.
I suggest you to take up this matter to a professional c.a as you also have to file quarterly tds returns for the same.
I hope my ans is clear to you.
ya i agree
get the TAN as soon as possible and pay the TDS
Thnx manoj, as i mentioned that i have 7 employees, now the turnover of My firm doesnt exceed to 60 lacs maximum it can go till 45 lcs, Does TDS have to do anything with the turnover or not, i mean if my firms turnover goes upto 45 lacs then what would be the scenario or if it shrinks to 30 lac, .or in any circumstance do i need to deduct TDS.....thnx
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