Tds applicability

This query is : Resolved

Khushbu (Querist)
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24 June 2017 One of my client's T/O for f.y.15-16 was below 1cr.now for f.y.16-17 T/O is above 1cr.and going u/s 44AD n not going for Audit due to limit of 2cr. Now is he liable to deduct TDS for f.y.17-18?

RAJA P M

RAJA P M (Expert)
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24 June 2017 Which category He ll be deduct TDS..? TDS ll be available more categories. So, he is deduct TDS on everything for the particular rules and laws...

Khushbu

Khushbu (Querist)
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25 June 2017 He is paying labour charges n interest on unsecured loan. So is he liable to deduct tds on that for f.y. 17-18 despite of t/o above 1cr.in f.y.16-17 n not going for audit due to 2cr.limit u/s44AD. T/ O exceeds 1cr.first time in f.y.16-17.
So is he liable to deduct tds for f.y.17-18?

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RAJA P M

RAJA P M (Expert)
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25 June 2017 Dear Khushbiu.,
TDS ll be deducted for the particular transaction based not on T/O based.
Ex 1: 1 % / 2% TDS on Labour Charges - Rs.30,000 per Contract or Rs. 1,00,000 per annum.
Ex 2: 10 % TDS o RENT Land/Building - Rs. 1,80,000 per annum and above...
When your client reached above criteria he ll be deduct TDS to Particular person.
So, in your view you cannot be deduct TDS for your T/O based...