Tds query
This query is : Resolved
20 October 2013
Sir, an individual doing business is liable to Audit u/s 44AB. Now he wants to start another business in F.Y. 2013-14 in which he would be a proprietor. Whether he is liable to deduct TDS u/s 194J as he is being subject to audit for another business or exempt since first year of second business ?
20 October 2013
As a proprietor, it doesn't matter how many different business you do. All the businesses are clubbed for income tax purposes. Accordingly, he shall remain liable for complying the provisions of 194J.
21 October 2013
Expert
The second provisio to Section 194J says that TDS to be deducted by Invidual on Professional or techincal fees if covered under 44AB. There is no mention of royalty. Does that mean, no TDS by indiviual on royalty even if subject to Audit ?
The second provisio to Section 194J says that TDS to be deducted by Invidual on Professional or techincal fees if covered under 44AB. There is no mention of royalty. Does that mean, no TDS by indiviual on royalty even if subject to Audit ?
21 October 2013
the way the proviso is structured, you can say that in case of royalty TDS won't be deductible in this case.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Is this income indian or foreign income?
- 15ca /15cb whose income tax login? remitter or nri seller's login?
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- ITC temporary reversal and reclaim
- GST on export of services and Input Credit
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- TDS U/S. 194NF
- Applicable TDS rate for sale of property in Nov 2024
- Inventory of finished goods
- Tds on building rent monthly
- Confusion around Form 26QB fields
- Adjustment entry in the case of Individual and HUF on 31st March
- Stock difference tax applicable on composite rate or normal rate
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
Trending Online Classes
CAclubindia
