Tds applicability

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

28 October 2015 Sir,

If in 2013-14 Financial Year tax audit is applicable and deducting tds. If for 2014-15 Financial year no tax audit is it necessary to deduct tds in case of if assessee is Individual or Company. Please give the basis for applicability

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
Follow

28 October 2015 For Company TDS required to be deducted from very begining whether Tax Audit is applicable or Not.

If Individual was under Tax Audit in FY 2013-14 then he is required to deduct TDS from FY 2014-15.

Querist : Anonymous

Querist : Anonymous (Querist)

28 October 2015 Sir,

Please clarify

1. Is not necessary to deduct for FY 2013-14 if tax audit applicable.
2. For FY 2014-15 no tax audit still he has to deduct tds

Please give applicability

Upgrade to CAclubindia Pro. Subscribe Now!

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
Follow

28 October 2015 Yes. If Tax Audit was not applicable for FY 2012-13 and it was applicable in FY 2013-14 then the Individual was not required to deduct TDS in FY 2013-14. TDS needs to be deducted in FY 2014-15 even if the Tax Audit was not applicable for FY 2014-15.

Querist : Anonymous

Querist : Anonymous (Querist)

28 October 2015 Sir,

Thank you for your reply. Please give applicable provision for this