Tds payment

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Hi Friends,

In assessment year 2013-14,my accounts got tax audited so i deducted TDS and same to paid to Govt.But In assessment year 2014-15 i do not deposit the tds because tax audit was not applicable. is it correct?

Replies (1)

No, the aforesaid approach is not correct.
.
An individual/HUF is exempted from deducting TDS under section 194A/C/H/I/J, if tax audit was not applicable during the F.Y. immediately preceding the F.Y. in which such income is paid/credited.
.
In the above case, relevant F.Y. is 2013-14 and the immediately preceding F.Y. is 2012-13, during which tax audit was applicable to you.
.
Hence, TDS should have been deducted, if any, during the F.Y. 2013-14.

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