tme s limted,bt drms r unlmtd (Mba ( fin.) Ca final Student) (257 Points)
20 February 2013Pls tell a newly partnership need to take Tan no as they are paying rent of Rs 60000/- per month , but their turn over will be approx 20lakh this year ???
CA Gaurav Kaushik
(Practicing Chartered Accountant)
(123 Points)
Replied 20 February 2013
The firm is required to deduct the Tax and should take TAN Number immidiately
The limit of turnover is applicable only in case of Individual and HUF
On Firms and Companies TDS is applicable from the very first day
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