I am confused that I am working in Trading co. They have to pay commission to person but this amount is more than the amount applicable for TDS. but they have just started business.when can we apply for TAN.is it necessary to apply for TAN in this year.I feel that when our turnover is cross the limit of 40 lakh then we can apply for TAN in the next year. Is it true? Pls send me your openion immidiately
27 September 2008
To apply for TAN why are you waiting for the turnover to cross Rs.40 lacs. U have statutory obligation to deduct tax if the minimum prescribed limit is crossed in a year; under various section for various payment.
To know the rate of deduction for various assessee please raise another query..! all the best and God BLESS u
CAclubindia
