Tds

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Querist : Anonymous

Querist : Anonymous (Querist)

07 January 2014 WHAT IS THE REASON/LOGIC BEHIND THE NON APPLICABILITY OF TDS IN CASE OF 1ST YEAR AUDIT?

Ganeshbabu K

Ganeshbabu K (Expert)
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09 January 2014 tds applicable if total amount credited to auditor account is more than 30000 in a single year
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there is no exemption for 1st yearaudit
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once total payments exceeds 30000 tds 194J has to be made mandatorily other wise expence will be disallowed

Querist : Anonymous

Querist : Anonymous (Querist)

09 January 2014 No, you've not got the question.
I am asking for the overall TDS Criteria , not particularly for professional fees.

my question is, why Tds is not applicable in the year inwhich assesee goes for the First time audit( when turnover exceeds one crore)

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