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REGARDING LIABILTY OF TDS

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(Querist)
18 February 2011 IF A PERSON HAVING TURNOVER LESS THAN 60 LACS IN F Y 10-11 AND WANT TO SHOW BOOK PROFIT LESS THAN 8% THAN HIS BOOKS OF ACCOUNTS TO BE AUDITED BUT WHETHER HE IS LIABLE TO DEDUCATE TDS ON INTEREST, PROFESSIONAL FEES ETC.
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Guest (Expert)
18 February 2011 In case of turnover less than 60 lacs in the preceding year, TDS will not be required to be deducted.

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