Tds

No

Dear Bhagyalaxmi,

In case of Individual / HUF, TDS provisions r applicable for the year next following the year in which limits specified u/s44AB  exceeds..(Following the year of TAX audit)

In this case In case of first year of Business we can say that TDS is not applicable on Individualsand HUF's

Hey Amir

Is there any Sec specified for that provision...

Reply as early as possible

Dear Bhagyalakshmi,

there is no separate section for this but this thing is provided by way of Proviso in every TDS Section like 194 C, 194H, 194J,etc

hi friends....

does tds on contract apply for a contract that is not wrtten and agreed between the parties.

eg: there is no written contract between two parties but the payment exceeds Rs.20,000/-

Hi Abhinaya,

Yes TDS is attracted even if contract is verbal...No requirement that contract has to be in writing...

thanks a lot amir.......

have a great day.

will commission paid to travel agents for the service of booking tickets attract tds as tds for brokerage and commission

Dear Abinaya,

but what about 194 h.... am asking whether this travel agent commission will be covered there or not... thanks for the circulars....

DEAR ABINAYA,

I DON'T THINK TRAVEL AGENTS CHARGE SEPARATELY FOR THEIR COMISSION,

THEY GET THEIR COMISSION FROM AIRLINES...

BUT IF THEY ARE CHARGING IT SEPARATELY TO CLIENTS THEN IT WILL BE SUBJECT TO DEDUCTION U/S 194 H.(ONLY THE COMISSION AMOUNT )

thanks a lot amir

take care