Question ID :
29554
TDS Applicability
An individual who is liable to get his account audited us 44AB because of his turnover exceeding threshold limit in the immediate preceding year is liable to comply with TDS provisions.
I am of the view that this condition will not apply to an individual who gets his account audited us 44AB even though his turnover is less than the threshold limit prescribed for the reason that he is declaring net profit less than 8 prescribed us 44AD.
Please confirm whether my view is right..
Posted by
Ethirajan
on
Apr 11, 2018
Filed Under
DIRECT TAXES
No, your view is not right. in this case, provision of TDS is applicable.
Posted by
CA. SATISH CHAND GARG on
Apr 11, 2018
Answer ID :
65429
No. TDS provisions attracts
Posted by
VINAY BHARGAV KUMAR G on
Apr 12, 2018
Answer ID :
65431
Your view is correct sir, because proviso {for eg., 194A (1) } emphasizes only about the threshold limit of 44AB (a) or (b).
Posted by
B.CHACKRAPANI WARRIER on
Apr 12, 2018
Answer ID :
65433
You are right and the liability to TDS is tagged to the turnover etc....
Posted by
SIVADAS CHETTOOR on
Apr 13, 2018
Answer ID :
65456
Your view appears to be correct. TDS provision is applicable as Sec 194 sections specify as per clause (a) or clause (b) of section 44AB. But under TAR us. 44AB, regarding non compliance of TDS provisions, one has to take NA as reply as the assessee might not have complied with TDS provisions under various sections of 194
Posted by
BALAJEE, K.S on
Apr 15, 2018