TDS applicability under section 194T for small firms

Income Tax
1

Is TDS u/s 194T applicable on firms having turnover less than 1cr? The firm doesn’t have a TAN yet. The firm is not subject to tax audit. Kindly suggest

2

Hi @mohit_mrinal

There is no condition specified based on Turnover etc. under section 194T for the non-applicability of TDS deduction and thus TDS deduction is required in all cases where the payment specified in section 194T exceeds Rs. 20,000.

Hope this clarifies!

Thanks,
CA. Pulkit Garg