Sir/Madam
One of our client is producing a film for the first time, since his turnover during film production period doesn't cross tax audit limit, is it necessary to do TDS on Payments or he can take first year of audit exemption
You will get one year exemption.
If for FY-2021-22 Audit is not applicable then in 2022-23 FY , then Tds provisions are not applicable if it is for Individual or HUF.
Turnover/ audit applicability during preceding FY has to be considered for Tds provisions applicability purposes
CAclubindia
