Tan
This query is : Resolved
21 August 2014
When should a individual apply for TAN and what is the turnover limit?
21 August 2014
Dear Tarun,
TAN is required only if assessee is liable to deduct tax.
TAN is required only if assessee is liable to deduct tax.
21 August 2014
Sir,
Thank you,
sorry my question was little unclear,
when a individual assessee is liable to deduct tax for any payments he is making, he needs to apply for TAN,
i am in a confusion that when an individual assessee should apply for TAN?
1.is it at the time when his gross receipt crosses certain limit in previous financial year
2. or immediatly after crossing gross receipt,
3. what is the gross receipts limit?
Thank you,
sorry my question was little unclear,
when a individual assessee is liable to deduct tax for any payments he is making, he needs to apply for TAN,
i am in a confusion that when an individual assessee should apply for TAN?
1.is it at the time when his gross receipt crosses certain limit in previous financial year
2. or immediatly after crossing gross receipt,
3. what is the gross receipts limit?
21 August 2014
if you take audit report on your account u/s 44AB due to your turnover was in last year Rs. 100 lacs or more then you can apply for TAN due to in current year you are liable to deduct the TDS on payment.
suppose in 2013-14 your turnover is rs. 100 lacs then you have to Tan apply in FY 2014-.15
suppose in 2013-14 your turnover is rs. 100 lacs then you have to Tan apply in FY 2014-.15
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