Hey guys, I'd like your inputs regarding TDS registration. I run an online music school and My CA told me that I would be required to register TAN and start deducting TDS for my teacher's salary payments as last FY the turnover has slightly crossed 50L.
From what I read online, I understand that the 50L threshold is for professional services while business have a threshold of 1cr to register and start deducting TDS. When I asked him isn't my music school a business, he mentioned that since I'm providing a specialised service it will be treated as a professional service and not a business.
I wanted to get another opinion on this since I still feel confused by this classification. Any CAs or anyone in a similar industry, your inputs will be valuable.
Business Details -
Business Type: Sole Proprietorship operating with a trade name (eg. XYZ Music School)
Industry: Online Music School
Employees: ~10 (all part time contracts) each drawing between 20-40K per month
Students: ~100
GST Registered: Yes