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Individuals are not required to deduct tax.Right?

November 7, 2006 By taxworry Leave a Comment

Wrong !
Even Individual and HUF are supposed to deduct tax at source from payment

  1. Salary
  2. Interests
  3. sub-contractor
  4. Commission or Brokerage
  5. Rent
  6. Professional Fees or Technical Fees

If Individual or HUF carries business and gross turnover exceeds Rs, 40,00,000 or
in case of professional income , receipts exceeds Rs 10,00,000.

Point to note is that preceding Financial Year’s Turnover or Professional Fees is taken for determining the applicability of TDS provision in this case.

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