Tds
This query is : Resolved
23 January 2019
Dear Sir,
If an individual has turnover of say above 1 crore but below 2 crore, and he decided to declare his income as per provisions of Section 44AD. In this case will the provisions of TDS ( on salary or commission or any other expenditure ) be applicable to him or not.
Since an individual is liable to conduct tax audit only if his turnover exceeds 1 crore in normal case. In case of 44AD an individual is liable to conduct tax audit only if he is showing income below 6% or 8%. So if that individual is following Section 44AD, then I guess provisions of TDS will not be applicable to him.
Kindly confirm whether i am right or wrong.
Thanking you
If an individual has turnover of say above 1 crore but below 2 crore, and he decided to declare his income as per provisions of Section 44AD. In this case will the provisions of TDS ( on salary or commission or any other expenditure ) be applicable to him or not.
Since an individual is liable to conduct tax audit only if his turnover exceeds 1 crore in normal case. In case of 44AD an individual is liable to conduct tax audit only if he is showing income below 6% or 8%. So if that individual is following Section 44AD, then I guess provisions of TDS will not be applicable to him.
Kindly confirm whether i am right or wrong.
Thanking you
23 January 2019
there is no link between actual conduct of audit and TDS deduction obligation. Once your turnover crosses 44AB clause (a) or (b), the obligation to deduct TDS kicks in
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?
- ITC temporary reversal and reclaim
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- GST on export of services and Input Credit
- TDS U/S. 194NF
- Applicable TDS rate for sale of property in Nov 2024
- GST ON EXPORT COMMISSION
- Import license renewal
- 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?
- Query for dubts
- Regarding einvoice taken on nil rated sales
- Strategical investment in Public listed company
Trending Online Classes
CAclubindia
