Applicability of tds on rent

This query is : Resolved

Anand K (Querist)
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05 April 2015 Dear Sir, We are an Individual Assessee running a Beauty Parlour paying rent Rs. 60,000 per month & we do not fall under 44AB audit, Do we require to deduct the tax at source? Pls let us know. Regards, AK

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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05 April 2015 If your file was not subject to Tax Audit u/s 44AB during previous Financial Year then you are not required to deduct TDS.

Kaushik Joshi

Kaushik Joshi (Expert)
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05 April 2015 As Sanjay Gupta Sir has rightly quoted, I too would like to inform you that TDS provisions are applicable to individuals and HUF in the Financial Year succeeding the Financial Year in which the assessee was liable for tax audit.
It means that in case you were liable to audit u/s 44AB for exceeding the turnover limits of 1 cr in last year, you shall have to deduct TDS on payments made by you in this year.

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