Hello, we have just started a partnership firm and expect total turnover in entire current FY to be less than 8-9 Lakhs. We have billed customer and got payment with 10% TDS deduction, now we have got some work done by technical expert and intend to pay him about 50,000 and we may pay him more in this FY. approx. 1.5 lakhs. Do we need to deduct TDS of this technical expert? Some places it says no relation of TDS and turnover, some places it says less than 15 Lakh turnover, no need for TDS on vendor payment and hence no need for TAN number too?
Tds partnership firm - professional consultancy
vivek ahuja (consultant) (34 Points)
26 November 2012