Tds liability

TDS 429 views 1 replies

CA Final

1333 Points Joined August 2009

Can anyone with proper refrence clarify the liabilty of TDS. ie when a person is liable to dedcute TDS and deposite with govt

1. First year of audit..........not liabilty

2. in the First quater of business the turnower exceed 1 crore..yes or not

Please support you answers with refrence urgent help required..

Replies (1)

Sr. Executive - Finance & Accounts

1732 Points Joined February 2011

If in the last year the assessee was liable to tax audit, he will have to deduct TDS.

Hence, in the first year there is no need to deduct tax.

Your are not logged in . Please login to post replies

Click here to Login / Register