My client who is an individual carrying busineess who is not required to be audited under section 44 AB for the AY 08-09.He made apayment to a professional singer during previous year 2008-09 Rs.5,00,000.His accounts to be audited U/S 44 AB for AY 09-10.Whether hee need to diduct TDS under section 194J for the above payment.
2 Replies
FATEMA
(CHARTERED ACCOUNTANT)
(719 Points)
Replied 13 November 2009
TDS is applicable from the 2nd year of the audit.For eg. if the books of accounts were audited for the first time in F.Y.08-09 then TDS will be applicable from F.Y. 09-10.
Hope the query is solved.
Jyoti Malik
(ACCOUNTANT)
(2644 Points)
Replied 13 November 2009
| Originally posted by :Manoop V M | ||
| " | My client who is an individual carrying busineess who is not required to be audited under section 44 AB for the AY 08-09.He made apayment to a professional singer during previous year 2008-09 Rs.5,00,000.His accounts to be audited U/S 44 AB for AY 09-10.Whether hee need to diduct TDS under section 194J for the above payment. | " |
For A Y 09-10 as first year books are liable for audit then Deduction of TDS starts from next A Y. - 2010-11.
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