Tds if turnover above 1crore

1. TDS shall be applicable from next financial year, provided you come under tax audit as per section 44AB, for current year.

2. Turnover limit for tax audit has been raised only if you opt for section 44AD, otherwise in normal circumstances it is 1 Cr. only.

you must have to apply for TAN no and deduct tds and file return as per rules.

I am agree with Mr. Rambhai Ji and also attract Central Excise Registration in this case otherwise facing huge problems in tis regard. 

thnx

but is total turnover in a business is related to TDS

is there any rule that one has to apply for TAN if the total turnover exceeds 1 cr.

m saying turnover not INCOME

Sir, so if a person have turover of more than 1 crore and he files under section 44ad then do not have to deduct TDS?

@ Vishal: TDS is indirectly related to Turnover. Once your turnover exceeds the specified limit as per Section 44AB.......... Tax audit becomes mandatory.  

Now as per different sections (other than salary, where it is otherwise) under which TDS is required to be deducted......... there is sub-clause  which states individuals/huf having tax audit u/s 44AB in preceeding year......... the section gets appicable.......

Thus TDS gets related to turnover...

Originally posted by : Candidate Master
	Sir, so if a person have turover of more than 1 crore and he files under section 44ad then do not have to deduct TDS?

When return filed u/s. 44AD, tax audit is not required u/s.44AB.... Right?

When section 44AB not attracted........ .. in next Financial Year, related TDS provisions also not attracted.......

Awesome, so I do not have deduct any TDS?

Sale above one crore , business of Saw Mill (Wood)....is obtaining TAN mandatory....????

Obtaining material against 27C, No Salary, Rent and Interest element

Audit will be done under 44AB

RESPECTED SIR,

I have a doubt about tds applicability section..  turnover is 1 cr. 25 lakh in FY 2017-18 but return file under section 44 AD. salary paid to employee is 5 lakh rs, soo tds on salary related provison are applicable or not? 

and please clear below mention provision

refer provisions of TDS, [Provided that an individual or a Hindu undivided family, whose total sales, gross receipts or turnover from the business or profession carried on by him exceed the monetary limits specified under clause (a) or clause (b) of section 44AB during the financial year immediately preceding the financial year in which such interest is credited or paid, shall be liable to deduct income-tax under this section.] 

Thanks and Regared