PLS. NOTE , OUR TURNOVER FOR THE PERIOD 1-4-11 TO 31-3-12 IS RS. 57 LAKH ONLY, BUT OUR C.A. HAVE TAX AUDITED OUR BALANCE UNDER SECTION 44AB.
IN THE CURRENT YEAR,i.e. 1-4-12 to 31-3-13, we have got some job work done from outside, wherein the single invoice value of the job work is more than Rs. 50000/- and gross amount of the job work got done during the year so far is about Rs. 2.50 lakh.
Pls. inform , are we liable to OBTAIN TDS NUMBER AND DEDUCT TDS, on these job works got done during this year.
we had been told by some practitioner that , since our last year turnover is less than Rs. 60 lakh , hence currently we are not liable to OBTAIN TDS NUMBER AND DEDUCT TDS.
10 March 2013
WE ARE A PROPERIETORSHIP CONCERN AND DESPITE BEING NOT REQUIRED THE AUDIT WAS CONDUCTED UNDER SECTION 44 AB BECAUSE OUR PROFIT WAS LESS THAN 8%
CAclubindia
