Tds related query

If in the last F Y he is not liable for Audit then in Current F Y he is not liable for deducting TDs.

In this case, no TDS libility shall arise in the FY 2012-13 since the provisions for TDS state that the TDS shall be liable to be paidby  any person, being an individual or a Hindu undivided family or an association of persons or a body of individuals, if such person is liable to audit of accounts under clause (a) or clause (b) of section 44AB during the financial year immediately preceding the financial year in which such sum is credited.

Originally posted by : CA Manish Malu
	If in the last F Y he is not liable for Audit then in Current F Y he is not liable for deducting TDs.

Agreed with expert..

As per income tax provisions, individual Or HUF liability to deduct tds depends on previous year tax audit u/s 44AB , income tax act 1961.

   In the above case Mr.A  not liable to deduct TDS for 2012-13 because Mr.A was not covered under tax audit 44AB in the previous year 2011-12

Agreed with manish sir

Thanx to All 

PLS TELL ME IF A PARTNERSHIP FIRM IS ENGAGED IN CIVIL CONSTRUCTION BUSINESS AND GIVEN A CONTRACT TO ONE OF WORKING PARTNER OF FIRM THEN THERE IS NEED OF TAX DEDUCTION U/S 194 C ...PLS REPLY

i agreed that tds not to be deducted in current f y , if there was no tax audit in previous year, but whether assessee required to file tds returns or not?

Not required if he is not liable to deduct TDS.

Think other way, whether all those who are not required to deduct TDS should file return?

Thx//Vaibhav

I have query related to TDS. 

In last F.Y i.e 13-14. TDS of Q4 has been filied in Q1 of F.Y 14-15 .

Regards 

ayush

Hai............., 

I am working for one company on contract basis its for three months .They are deducting 3750per months on the name of TDS .My total earning is per month 37500.Is it correct they doing.