Tds applicability
This query is : Resolved
13 January 2014
An individual whose turnover is less than 1 crore, have to make remittance outside india for $50. Is TDS to be deducted???
As an individual and also turnover within statutory limit, he is not eligible to deduct TDS if payment is made to resident. but, what if payment is made to non resident???
Also, whether Form 15CA and Form 15CB is required to be submitted???
If yes, can it be submitted without TDS deduction????
As an individual and also turnover within statutory limit, he is not eligible to deduct TDS if payment is made to resident. but, what if payment is made to non resident???
Also, whether Form 15CA and Form 15CB is required to be submitted???
If yes, can it be submitted without TDS deduction????
Guest
Guest
(Expert)
13 January 2014
Yes liable to deduct TDS.
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13 January 2014
TDS has to be deducted u/s 195 even if turnover is less than 1 crore.
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14 January 2014
What about Form 15CA and 15CB???
Now, if I take TAN no. So will I be liable to deducted TDS on resident also i.e. u/s 192, 194A, 194C, etc..., which is currently not applicable to me???
Now, if I take TAN no. So will I be liable to deducted TDS on resident also i.e. u/s 192, 194A, 194C, etc..., which is currently not applicable to me???
15 January 2014
No. For other sections, the TDS would be deducted if applicable to all assessees including those having turnover below Rs 1 crore. Getting TAN would not make you liable to deduct TDS which otherwise you are not supposed to deduct.
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