dear sir/madam,
if an individual is making payment to another individual related to business and amount exceeds threshold limit of professional fees... is TDs deducting mandatory ? if yes, should the person take tan registration. Please confirm on priority.
Regards,
Asha
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TDS to be deducted or not???
Replies (3)
If turnover of payer exceed 100 lacs last year then option tan and deduct tax. otherwise no tds and no tan.
An individual or an HUF is not liable to deduct TDS except where the individual or HUF is carrying a business or profession where accounts are required to be audited u/s 44ab in the preceding fy
Thank u
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