I had recently started proprietorship concern. I have to pay monthly rent (above 1,20,000) for the office & paid to contractor (above 20,000) for wooden work. Please tell me that this is right to deduct the TDS from the payment. I have TAN No. with my Individual name. Please guide me. [Thanks in Advance]
Dear Kumar,
First of all congratulation for starting a new business. you are not liable to deduct TDS. Please write me any query related to taxation my email id is sachinagarwalcallb @ gmail.com
Since your gross receipts or turnover did not exceed the limit specified u/s 44AB in preceding FY, you are not liable to deduct TDS
Malhotra Rajesh & Associates
New Delhi
B.Com
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S.B.G. & CO. CHARTERED ACCOUNTANTS
New Delhi
CA Inter
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ADY & CO.
New Delhi
Graduate (Any)
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HKC | Chartered Accountants & Business Advisors
Ludhiana
CA
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CCI
Pro
CAclubindia
