Tan number & tds deduction liablity

This query is : Resolved 

Avatar

Querist : Anonymous

Profile Image
Querist : Anonymous (Querist)
18 August 2013 Hi,

I am an Individual carrying on F & O Business. For these , I have taken loan from family members etc & paying them interest on same.

Please advise whether i am liable to apply for tan number & deduct tds on payments made by me...

Thanks..

19 August 2013 It is important to know what is your turnover? If it exceeds 1 Cr. then yes you have to deduct TDS and maintain proper books of account u/s 44AA and get the same audited u/s 44AB. After deduction you have to file your TDS return provided your tO is above 1 Cr.



You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Join CCI Pro
CAclubindia's WhatsApp Groups Link


Similar Resolved Queries


loading


Unanswered Queries