Tds deduction

itdepens upon the amtof commission paid by propreitorship ie 5000 limit upto31-5-2016 from 1-6-2016 itwill be 10000

As per mine understanding, tds should be deducted only if you have tax audit applicable in previous year but same is not applicable in your case so i think there is no situation to deduct.

Not applicable if it is a proprietary concern for the first year since the provision says you must be covered in a tax audit case. If it is a company no need to see the year of incorporation, If the amount of threshold limit exceeds, company has to deduct TDS..

Dear Abdul Rauf,

Proprietorship concern is not liable to deduct tds.

Since an Individuals or an H.U.F. is not liable to deduct TDS on such payment except where the individual or H.U.F. is carrying on a business/profession where accounts are required to be audited u/s 44AB, in the immediately preceding financial year.

TDS IS REQUIRED TO DEDUCT ONLY WHEN IF LAST YEAR TURNOVER OF BUSINESS IS EXCEED 1 cr or audited u/s 44AB. therefore in this case assessee is not required to deduct TDS

Agree with the views mentioned above. TDS provisions are applicable in case of an individual or HUF only if in the previous financial year the said individual or HUF were liable for tax audit u/s 44AB. As per the details mentioned by you, the proprietorship concern (viz. individual) is in its first year of operation. Hence TDS provisions are not applicable irrespective of the turnover crossing the prescribed limit of Rs. 1 crore in the current financial year.