Rs 5 lakhs Commission paid by individual to another not liable for tax audit

TDS 363 views 4 replies

An individual  who is doing brokerage business paid about Rs 5 lakhs by online transfer to another brokerage as commssion. Total rreceipt of brokerage for the year is less than Rs 15 lakhs hence   he is not liable for tax Audit. 

Is he liable to deduct TDS as per IT act for the assessment year 2023-24?

Replies (4)

No. Not liable for TDS deduction.

What is the total turnover??

Rs 15 lakhs which is already  indicated in the query

TDS deduction not applicable.


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