194J when payer is a sole proprietor

Posted: 28 Aug 2010 07:11 AM PDT

Applicability of section 194A/194C/194J when payer is a sole proprietor X is a sole proprietor. For the financial year 2009-10, his turnover is Rs. 45,00,000. During the financial year 2008-09, his turnover was Rs. 39,00,000. Before April 1, 2008, his turnover was always more than Rs. 40,00,000. He has paid interest to a non-banking non- financing company of Rs. 75,000 on April 10, 2008 without deducting tax at source under section 194A. Further, he has paid a royalty of Rs. 35,000 to a...

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