Tds deduction

This query is : Resolved

sandeep (Querist)
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14 May 2019 Freinds please let me one think clear that a company is a proprietorship firm and his turnover is Rs.6500000 and comapny gives commission to our employee approx Rs.500000 so company is liable to Deduct TDS on Commission.

CA Mayur Todmal

CA Mayur Todmal (Expert)
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14 May 2019 tds on commission is applicable subject to threshold of 15000. In your case if your proprietor ship was subject to tax audit in previous year , then have to deduct tds otherwise no.

CA Rashmi Gandhi

CA Rashmi Gandhi (Expert)
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15 May 2019 TDS on commission or brokerage is to be deducted by all types of entities including individual & HUF who falls under the ambit of tax audit U/S 44AB i.e. their turnover or annual income exceeds 25 lakh and goes up to 1 crore (as applicable according to the income tax slab). As your turnover is below 1 crore then no liability arises on your point to deduct TDS. However you may voluntarily deduct such TDS.

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