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194A

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Querist : Anonymous

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Querist : Anonymous (Querist)
11 March 2011 is there any exemption not to made TDS when he comes under purview of 44 AB for First time?
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Bhaskaran Chackrapani Warrier

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Bhaskaran Chackrapani Warrier (Expert)
11 March 2011 Pl read proviso to section 194A. The said proviso says,in the cited case 1st year no need to deduct income tax. Next year 194A attracts.
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CA KRISHNA KUMAR DARUKA

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CA KRISHNA KUMAR DARUKA (Expert)
11 March 2011 Yes this exemption in first year is availabe only to individual or HUF.
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