TDS Applicability

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A Proprietory Concern was under Audit u/s 44AB in A.Y.2016-17(F.Y.2015-16) and was closed down in the same year. A new Proprietory concern is started in A.Y.2017-18(F.Y.2016-17)( a different Business altogether in a different sector) which is liable to Audit in this A.Y. itself(Turnover above 1Cr.).
Should TDS to be deducted from Payments made in the New Business from A.Y.2017-18,i.e., the First Year itself?

Thanks in Advance.
Replies (1)

Generally, in case of individuals, the PAN is considered for any complience, rather than any of its firm/s. That way, TDS liability arises.

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