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TDS RELATED

25 April 2018

TDS RELATED

Pawan Singhal • 24 April 2018

F.Y.2017-18 mein mera turno ver 1.85 crore ka hai. Maine 05april 2017 ko Lendingkart finance Limited se 10 lakh ka unsecure loan liya tha jo ki maine 24 december 2017 ko final kr diya hai.Maine is par koi bhi TDS income tax mein deposit nhi kiya hai. kya mujhe tds deposit krna chahiye tha ? Lendingkart ne mujhe koi tds ka amount nhi diya hai.Plz meri help kre.
Advance Thanks

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8 Replies

Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (177896 Points)
Replied 25 April 2018

What was your turnover for FY 2016-17?

Whether yours is proprietorship firm?

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Pawan Singhal (82 Points)
Replied 25 April 2018

Sir , F.Y.2016-17 mein turnover 94 lakh hai.aur proprietorship firm hai.

Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (177896 Points)
Replied 25 April 2018

So, If it is trading firm, there was no tax audit requirement (u/s. 44AB) for FY 2016-17 (of the proprietorship firm)........

As such TDS deduction u/s 194A was not mandatory for FY 2017-18.............. Relax.

Pawan Singhal (82 Points)
Replied 25 April 2018

yes Sir it is trading firm and thanks Sir for your Support

Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (177896 Points)
Replied 25 April 2018

My Pleasure....

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Ravinder (Independent ) (82 Points)
Replied 25 April 2018

Yes, U/s 44AB Tax Audit....it your responsibility to deduct TDS and deposit in time as well as filing of TDS return. After filing return you issue Form 16 to company and demand refund of deducted TDS.