KARAN SHAH (Article Assistant) (231 Points)
22 June 2015One of my client is going to operate PRESCHOOL activities (Preprimary) She allready register under Shop Act for Gumasta licence in name of preschool. & premises from where she is operating is on rent, so is she liable to deduct TDS on same & have to apply for TAN & should we do Audit of same. this is new topic for me. so kindly guide me regarding this as soon as possible.
CA Suri Kota
(Assistant Manager @ EY)
(955 Points)
Replied 25 June 2015
As she got the license, she has to apply for PAN / TAN and laible to pay TDS on Vendor payments.
If the turnover exceeds 60 lacs p.a. , certainly tax audit is applicable.
Thanks,
Suri
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