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Tds
My yearly turnover Rs.40 L,But we paid Rs.50000 monthly rent,can i deduct tds?
Replies (3)
yes you must deuct TDs
Depends upon whether you are a corporate assessee or not and if not then whether you are covered under section 44AB. If you are corporate assessee then you must deduct tax. If not then whether this is your first year of tax audit. If not then you should obtain TAN and deduct tax.
If you are an individual not subject to tax audit u/s 44AB then you are not required to deduct TDS on such payment.
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