Tds

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

01 February 2013 One of my client(Properitor)has crossed turnover of Rs.50 lac in the month of December12.
He has paid Commission of Rs.1 lac in the month of Jan 13,there is need to deduct TDS on this comn amt?

Abhijit

Abhijit (Expert)
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01 February 2013 There is no need to deduct the TDS on commission because in last year he was not in Audit.

Querist : Anonymous

Querist : Anonymous (Querist)

01 February 2013 Means from next year onwards i.e 2013-14,he will have to deduct tds on comn.

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Abhijit

Abhijit (Expert)
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01 February 2013 Yes, subject to his turnover of Rs. 1 Crore. In case of service sector his turnover limit for tax audit is Rs.25 lac for the F.Y. 12-13.

Querist : Anonymous

Querist : Anonymous (Querist)

01 February 2013 Will you please give me any circular or notification

CA Prashant Gupta

CA Prashant Gupta (Expert)
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01 February 2013 sec 194A, 194C(2), 194H, 194-I and 194 J have been amended from June 1, 2002 for this clause.
you can check ready recokner or section.
there is no need for cicular or notification.