31 December 2014
A new proprietary business started in june 13. In fy 13 14 turnover was 35 lacs. In 14 15 up to Dec turnover is 60 lacs. TDS provision is applicable to business?
Can assessee take voluntary TAN
31 December 2014
since the total turnover in FY 2013-14 was not exceeding rs. 1 cr, TDS provisions are not applicable on the assessee. TAN may be obtained voluntarily, there is no problem at all in it. TDS provision will be applicable in the FY where total turnover in previous FY was exceeding limit given in sec 44AB (i.e. rs. 1 cr for this FY)
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