One 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.
1 Replies
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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