Wanted solution

hemanthkumar (internal auditor) (26 Points)

03 June 2014  

x (PROPRIETARY CONCERN ) paid to y rs 851245 on account of making charges of gold .In this case clarify whether x has to deduct tds under section 194 c or not 

if 

1. X is liable for audit U/S 44 AB

2.X is not liable for audit U/S 44 AB 

3.X is liable for audit U/s 44 AB For the first time 

4. X is liable for audit u/s 44 AB But the net profit is less than 8 %

Please clarify the doubt as possible