Ctds on subcontract 194c

This query is : Resolved

Murugesan (Querist)
Follow

24 November 2012 My claint(Propreitor concern) doing Printing Jobwork from April 2012 till now not deduct TDS is correct or not. (turnover till now Rs.50.00 Lakhs Only)

Pankaj Gupta

Pankaj Gupta (Expert)
Follow

24 November 2012 only that individual whose accounts are required to be audited under sec 44AB are required to deduct TDS. As your client has not reached the limit of 44ab , hence not reqiured to deduct tds.

Murugesan

Murugesan (Querist)
Follow

24 November 2012 In case my client reached the limit of 44ab from Dec'12 to march 13. we deduct TDS? and if any exemptions in first year of 44AB?

Upgrade to CAclubindia Pro. Subscribe Now!

Pankaj Gupta

Pankaj Gupta (Expert)
Follow

24 November 2012 Yes then you will have to deduct TDS. and further........ their is no such exemption.