TDS provision applicable
This query is : Resolved
08 March 2023
IF Assessee is Trading In FY 21-22, and Turnover From Option Exceeds 1 Crore then TDS Provision Is Applicable On Him or Not?
08 March 2023
Yes, but is there any business other than F&O? As in F&O trade there is no provision for any TDS deduction.
08 March 2023
No Business Other Than F&O
08 March 2023
The TDS provisions are applicable only when you make any payments related to business and not personal.
In case of F&O business check for any such expenditures liable to TDS deduction.
In case of F&O business check for any such expenditures liable to TDS deduction.
08 March 2023
taken loan and interest payment
08 March 2023
Yes, an individual or a HUF, whose total sales, gross receipts or turnover from the business or profession carried on by him/it exceeds Rs. 1 crore in case of business and Rs. 50 lakhs in case of a profession during the financial year immediately preceding the financial year in which the aforesaid amount is credited or paid, shall be liable to deduct tax under section 194A. No TDS if interest paid is below Rs. 5000/-
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