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Income tax
MY query is regarding income tax about 44ab, My firm is logistics company it is work of as a broker and commission my company turnover 2 crores is it liablities for get the tan numbre and is it liablites for deducted tds from broker and commission Chirag Mistry
Replies (3)
If your company is paying brokerage or commission which exceeds limit of 15000 at any time during financial year 2016-17. TDS has to be deducted @ 5% under section 194H
DEAR SIR
IF SECTION 44 AB IS LIABLE ON YOU AND YOU HAVE CROSS THE LIMIT OF AUDIT ,
THAN YOU SHOULD APPLY TAN NO AND START TDS DEDUCTE @ 5% UNDER SECTION 194H AGAINST PAYMENT AS COMMISSION OR BROKEGE
GOOD LUCK
Hiiii,
TDS liability is emerged only if your accounts are liable for audit under section 44AB in previous year.So after that previous year you have to deduct TDS.
For depositing TDS , TAN is compulsory so you have to apply for it afterwards.
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