My client who is an individual carrying busineess who is not required to be audited under section 44 AB for the AY 08-09.He made apayment to a professional singer during previous year 2008-09 Rs.5,00,000.His accounts to be audited U/S 44 AB for AY 09-10.Whether hee need to diduct TDS under section 194J for the above payment.
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TDS 194J
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TDS is applicable from the 2nd year of the audit.For eg. if the books of accounts were audited for the first time in F.Y.08-09 then TDS will be applicable from F.Y. 09-10.
Hope the query is solved.
| Originally posted by :Manoop V M | ||
| " | My client who is an individual carrying busineess who is not required to be audited under section 44 AB for the AY 08-09.He made apayment to a professional singer during previous year 2008-09 Rs.5,00,000.His accounts to be audited U/S 44 AB for AY 09-10.Whether hee need to diduct TDS under section 194J for the above payment. | " |
For A Y 09-10 as first year books are liable for audit then Deduction of TDS starts from next A Y. - 2010-11.
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