Sir/Madam
One of our client is producing a film for the first time, since his turnover during film production period doesn't cross tax audit limit, is it necessary to do TDS on Payments or he can take first year of audit exemption
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TDS liability on Film Producers
Replies (4)
Quick Summary
You will get one year exemption.
If for FY-2021-22 Audit is not applicable then in 2022-23 FY , then Tds provisions are not applicable if it is for Individual or HUF.
Turnover/ audit applicability during preceding FY has to be considered for Tds provisions applicability purposes
If for FY-2021-22 Audit is not applicable then in 2022-23 FY , then Tds provisions are not applicable if it is for Individual or HUF.
Turnover/ audit applicability during preceding FY has to be considered for Tds provisions applicability purposes
So tds may not be applicable in those case if tax audit is not applicable for preceding FY.
This exemption is for Individuals and HUFs only
Deducting tds does not go hand in hand with irrespective of the tax audit limit.Tax audit limit is seperate .
God we get replies like this .
@ Sabyasachi,
Read the act again and reply
@ Sabyasachi,
Read the act again and reply
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